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Risk Management Industry News for FCA Regulated Businesses

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Financial Crime, Cyber crime

College for card fraud – how fraudsters learn on the dark web

Online ‘classes’ in how to commit card fraud are available on the dark web, making it easier for novices to find ways of committing financial crime.

Online tutorials were exposed by UK-based Featurespace, a provider of behavioural analytics...

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Financial Crime, Money Laundering

Overseas Entities law is set to clamp down on ‘McMafia’ money launderers

Forthcoming legislation is set to create a new property register to reveal the identities of overseas owners, which is likely to be an unwelcome development for money launderers. The Overseas Entities Bill should act as an important weapon in the...

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Industry Regulator, FCA, Financial Crime

Regulators toughen up when punishing the rate riggers

Memories of the financial crisis have yet to fade and it is clear today’s regulators are taking a more robust approach than they used to. Their resolve can be seen most apparent in the high-profile cases resulting in jail fines and other sanctions,...

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Financial Crime, Insurance

‘Ordinary’ fraudsters warned: ‘It isn’t worth it’

Thinking about committing insurance fraud? The consequences could make life difficult as the latest campaign from Cifas, the cross-sector fraud data-sharing organisation, outlines. 

In recent years, organised crime activity has attracted more...

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FCA, Financial Crime, Cyber security

Regulator focus on vulnerable customers set to continue

The FCA are due to release further guidelines, in the coming months, in regards to identifying vulnerable customers. It’s vital that firms do their best to identify those who may need additional support and the regulator may well sanction those who...

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FCA, Financial Crime, Cyber security

Financial crimes of the future: can the regulators keep up?

Tackling financial crime can be an uphill battle, with criminals often employing new tactics and strategies in order to move the goalposts for regulators.

Attempting to stay one step ahead is therefore essential, with some understanding into the...

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