Context
Sarah Pritchard, Executive Director, Markets, gave her speech at the Financial Crime Summit in London.
Key points to note
The speech is split into seven sections:
- First responders in the fight against financial crime
- Force multiplier effect
- The FCA’s role
- Robust defences and actions
- Thinking ahead
- Cost of living
- A whole system response
Highlights:
- Collaborating with firms and agencies to share intelligence and quickly respond to evolving threats makes the FCA and those firms and agencies better at spotting and stopping financial crime.
- The cost-of-living crisis will lead to criminals to try and exploit people even more through scams such as loan fee fraud and APP facilitated scams.
- Fighting financial crime underpins the FCA’s priorities and it is acting at pace (on areas from spotting sanctions-busting to driving improvements on money laundering controls), and raising consumer awareness through its Scamsmart campaigns.
Next actions
None – for information and awareness.