Anti-Financial Crime & Financial Crime Compliance
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AML, Compliance, Financial Crime, Financial Services, UK

NEWS: Britain’s FCA sends warning shot to payments companies over ‘unacceptable risks,’ demands urgent AML fixes

BRITAIN’S Financial Conduct Authority (FCA) has warned that it will shut down payments companies offering bank-like services without banking licences, demanding they immediately fix problems that pose an “unacceptable” risk. Matthew Long, director of payments and digital assets at the FCA criticised payments companies for not adequately safeguarding clients’ money or conducting AMML checks and…

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