Thu Feb 10 GMT (in 18 days)
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Financial Crime is a complex, multi-faceted and ever evolving global issue which has become increasingly sophisticated in nature. As firms digitise their services and remote working schemes are shaped to accommodate the new normal, the growing threat from financial crime is now more significant than ever, with sophisticated scams on the rise, targeting vulnerable customers to gain their personal and financial information.
Whilst UK businesses and the Government introduce numerous initiatives to work across the public/private divide and enable information sharing to facilitate the fight against crime, firms find the demands and expectations on them to participate ever increasing.
Online financial crime is an incredibly important issue for both the IA and the industry, and we will continue supporting the sector and policymakers in navigating the substantial opportunities and challenges which lie ahead.
The Government continues to push ahead with changes to the Money Laundering Regulations, coming through 2022, with increasing divergence from the European Union, given the EU’s new Anti Money Laundering (AML) Package. There will also be a new UK SARs Digital Service introduced soon.
Leaving the EU also led to the UK developing its own sanctions regime, incorporating sanctions imposed by the United Nations and UK specific sanctions.
Regulatory & Financial Crime Expert, The Investment Association
Governance, Risk, Compliance & MLRO, Handelsbanken Wealth & Asset Management
Deputy Director, National Economic Crime Centre
Rt Hon Stephen Timms MP
Member of Parliament for East Ham
Global Head of Financial Crime, Aviva Investors