Charities and internal investigations
The FCA has published its 2015/16 business plan, a weighty document setting out its strategy and priorities for the next 12 months.
Financial crime has been elevated to one of its seven key risk areas, displacing rapid house price growth on its list of top concerns.
The focus will be upon the effectiveness of firms’ systems and controls to prevent money laundering, bribery and corruption. Firms will be expected to have effective, proportionate and risk-based systems in place to ensure that their business cannot be used for financial crime.
Some of the other ways in which the watchdog proposes to sharpen its crime-fighting profile include:
In making financial crime one of its key areas of focus, the FCA has set itself an ambitious agenda for the year ahead. The challenge now will be how best to allocate its resources to achieve both these and its other, wider strategic objectives.
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