UK regulator FCA received 1,000 financial crime data requests
12 Sep 2018

The United Kingdom’s Financial Conduct Authority (FCA) received hundreds of requests for information from regulators and police units from around the world, in line with an initiative to work with other authorities to tackle financial crime.

The FCA received 1,064 requests for information and investigatory assistance from over 80 different regulatory and law enforcement authorities in 63 countries, said FCA chief Andrew Bailey.

“We also worked closely with colleagues on a number of high profile cases, including against Beaufort Securities, an operation that we conducted in tandem with the US Department of Justice, as well as regulatory colleagues in Canada and Germany,” Baily said in a speech at the FCA’s 2018 Annual Public Meeting held on Tuesday in London.

“This year saw the Office for Professional Body Anti-Money Laundering Supervision come into force. OPBAS, which is housed in the FCA, allows for better collaboration and information sharing between relevant authorities, supporting us in our aim to make the UK financial markets hostile to criminals.”

This year the regulator has also focused on increasing consumer awareness around the risks of fraud, he added.

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