Executive director of supervision at the Financial Conduct Authority (FCA) Megan Butler has urged investment firms to embrace technology to tackle financial criminals engaging in fraud and money laundering.
Speaking at the regulator's Cross-border Anti-Money Laundering TechSprint, Butler (pictured), who oversees wholesale and specialist investment, warned the FCA "does not tolerate facilitation of criminal activity" by the firms it regulates and does not "shy away from regulatory and criminal enforcement". She said: "We do have a public duty to explore all opportunities to combat crime. Money laundering and fraud included. "Regulators have used traditional supervisory tools for many years. We now need to think differently." FCA's Butler: Diversity is fundamental to business success a...
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