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Financial crime - stakeholder research

One of the key objectives of then ewly established Financial Crime & Intelligence Division (FCID) is to assess the nature and scale of financial crime and our performance in tackling it. It is often said that no reliable figures exist for financial crime, and many others suggest that the Financial Services Authority (FSA) should focus solely on tackling financial crime rather than measuring it.

A survey was carried out and released yesterday. In conducting this survey it became apparent from a very early stage that the FCID would not be able to establish the quantum of financial crime in the UK. After all, firms are unable to see the complete picture, and there was a common perception among respondents that all people involved in the fight to reduce financial crime can only see the tip of the iceberg. Despite this, the FCID is continuing to explore the potential for establishing a recognised methodology to assess the scale and incidence of
the financial crime in the UK.

See report

16:35 Posted in UK | Permalink | Comments (0)

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