By PAUL O’DONOGHUE, Senior Correspondent
‘FINCRIME Central’, which claims to be a financial news website, has published AI-generated quotes attributed to the CEO of the UK’s Financial Conduct Authority (FCA).
The LinkedIn persona Frederic Kahn, who is behind ‘Fincrime Central’, admitted the quotes were AI-generated.
Kahn thru his LinkedIn persona admitted the direct quote attributed to the CEO of Britain’s FCA was “never said.” The article was then amended and subsequently deleted completely.
Fabricating a direct quote is one of the most egregious malpractices a media outlet can commit and attracts the most serious penalties for any publication which is a member of a professional body.
The incident is an example of a growing trend in the AFC space of outlets producing AI-produced content which is unverified.
The manufactured quote from the FCA chief Nikhil Rathi was published recently in an article titled: ‘UK Mandates AML training to strengthen fight against money laundering’.
The article, which has since been deleted, claimed the FCA had “introduced a regulatory framework that mandates AML training for all financial professionals”.
It added that these new regulations would be enforced by 2026.
The article then added: ‘FCA Chief Executive Nikhil Rathi highlighted the importance of this mandate, stating, “Mandatory AML training ensures professionals stay vigilant. We’re closing gaps exploited by criminals to protect the financial system’s integrity.”’
AML Intelligence was unable to locate a source for the FCA’s announcement, or for Mr Rathi’s quotes.
Fincrime Central use of AI
Replying to AML Intelligence via LinkedIn, Mr Frederic said: “I have double checked on the quote. It looks [like] that was never said. Article adjusted.
“[With regard] to the incorrect quote, and FCA regulation, this was in the source I used. And re-written by AI.”
Mr Kahn said he normally uses AI (artificial intelligence) to write the articles published on ‘Fincrime Central’.
“Most of the time I write a small version and ask AI to make it longer,” he said.
Mr Kahn also said he originally sourced the story from the FCA’s ‘annual work programme 2025/26’. The publication is available [HERE].
The ‘Fincrime Central’ article was first adjusted to remove the quote wrongly attributed to Mr Rathi. It has since been deleted. An archived version of the article is available [HERE].
Mr Kahn added: “The article was removed from the website, so [was] the related LinkedIn posts. I am now less candid with what is produced by chatGPT or else, so checking references and quotes when used.”
The FCA declined to comment on the issue.
Fincrime Central has speedily gained 4,000 followers – mostly AFC professionals – on social media. It is one of the first websites in the sector to be largely produced via AI. The publication lists its head office as Paris, France.
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