Lawyer Daren Allen explores the latest trends in financial crime and highlights what the FCA is doing about it...
Enforcement data released by the Financial Conduct Authority (FCA) in September 2024 revealed that fewer regulatory investigations were opened in 2023/24 compared to previous years and the total amount of fines had decreased to £42.5m compared with £331m in 2021/22 and £199.3m in 2022/23. Despite an apparent downturn in enforcement activity, however, there is no question that combating financial crime remains at the forefront of the FCA's agenda. After releasing data in September last year, the FCA handed out two penalties to Starling Bank (£28.9m) and Metro Bank (£16.6m) for anti-mon...
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