FCA takes action on debt packaging firms following review
A review by the Financial Conduct Authority (FCA) on the practices of debt packager companies has led to six firms stopping providing regulated debt advice.
Research provides guide for financial services industry in reducing gambling harm
UK charity GambleAware has published a guide to help companies in the financial services market reduce gambling-related harm to customers.
ECB to examine digital euro potential through two-year investigation
The European Central Bank (ECB) has revealed it is set to begin a two-year long investigation into the possibility of launching a digital euro.
FCA provides warnings to banks over money laundering failings
The Financial Conduct Authority (FCA) has issued warning letters to retail banks due to ongoing weaknesses and failings around their financial crime controls.
What are the money laundering and fraud concerns around electronic funds transfers?
As more and more people rely on cashless systems to move money around, there is a pressing need to understand how electronic funds transfers (EFTs) – specifically – wire transfers and automated clearing house (ACH) transfers – could be at risk from financial crime.
EU plans to introduce AML authority following financial crime uptick
The European Commission has announced plans to create a new Anti-Money Laundering Authority (AMLA) following a flurry of recent financial crime scandals.
Financial consortium calls for new social, environmental reporting rules for banks
A financial group has called for the adoption of impact-reporting standards that account for social and environmental factors to speed up a sustainable transition for banks.
Is there a need for globally mandated ESG reporting requirement?
As dangers associated with climate change continue to become more inescapable in the lives of companies and individuals alike, the importance and need for ESG – Environmental, Social and Governance – in the financial sector is growing stronger. Is it time for globally mandated ESG reporting in the financial sector?
Hong Kong could introduce mandatory climate disclosures as early as 2022, HKMA claims
The Hong Kong Monetary Authority (HKMA) is apparently planning to speed up proposals to require financial organisations to disclose their climate change-related financial risks.
Study finds AML compliance costing UK firms over £28bn a year
A study by LexisNexis Risk Solutions has found anti-money laundering (AML) compliance is costing UK financial institutions £28.7bn and will raise to £30bn by 2023.
