Over half of advice firms have detailed plans to tackle crime and fraud

PA Asks reveals if advisers have plans for how to handle serious situations

Isabel Baxter
clock • 1 min read

Over half (59%) of advice firms say they have detailed plans in place for how to handle very serious situations such as internal financial crime and fraud.

The latest PA Asks survey revealed that 59% have detailed plans in place, 28% have plans in place but not detailed ones, 10% do not have any plans in place and 3% said they do not know. A respondent who has detailed plans in place said it is "part of our procedures". Another pundit added: "We have a detailed wind down plan which would cover such an event." One industry respondent who is part of a smaller business said that it has procedures to cover many eventualities with a dedicated compliance person. "We have rigid control structures in place regardless," added another pundit...

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