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Financial crime

Getting to the root

Financial crime

 

Background

Reducing financial crime is a key priority for regulators, authorities and governments globally. The Financial Services Authority (FSA) is taking an increasingly tough stance on financial institutions which it sees as critical players in the fight against financial crime.

Whilst areas such as sanctions continue to sit on the FSA’s agenda, their 2010/11 Business Plan highlights anti-bribery and corruption, anti-money laundering (AML) and mortgage fraud as key areas of focus for the year ahead. We expect to see the regulator address systems and controls issues in these areas through further thematic review work and enforcement activity to reinforce credible deterrence and promote standards across the industry.

To add to this tough regulatory landscape are legislative and other developments such as the proposed new UK anti-bribery legislation, Wire Transfer Regulations and MT202COV presenting further challenges for institutions.

Deloitte specialists have significant experience in assisting financial institutions, both proactively and reactively, on financial crime matters.

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