The Financial Conduct Authority (FCA) and UK Financial Intelligence Unit (UKFIU) are hosting an insightful webinar on financial crime in the payments and e-money sector. This webinar, taking place on 18th July 2023 from 1.30pm to 3.00pm, emphasises the need for a collective effort among law enforcement, supervision authorities, firms, and government to fight financial crime.
Building on the FCA’s public commitment to reducing and preventing financial crime, as outlined in their 3-year strategy, the webinar aligns with the latest payments and e-money portfolio letter and the Consumer Duty. It also aligns with recommendation 17 of the Economic Crime Plan 2, which aims to develop a comprehensive 4P approach (Prevent, Protect, Prepare, Pursue) to target criminal use of FinTech and related enablers, including e-money institutions.
This webinar presents attendees with an opportunity to gain insights into the following key areas:
- Understanding the reporting process and value of Suspicious Activities Reports (SARs): Discover the significance of SARs as a vital tool in identifying criminal actors and learn about the UK’s action plan for combating money laundering and terrorism financing.
- Expectations for effective financial crime systems and controls: Gain an understanding of the FCA’s expectations for robust financial crime systems and controls to protect customers’ money and prevent harm.
The webinar will feature senior representatives from the FCA and UKFIU, bringing their expertise and insights to the forefront. At the end of the webinar, there will be a Q&A session, allowing attendees to seek clarifications and delve deeper into the topics discussed. The organisers encourage participants to submit their questions in advance of the webinar.
This webinar is targeted at payments and e-money institutions, as well as associated trade associations. It aims to provide valuable insights into the latest strategies and approaches to combat financial crime in the payments and e-money sector.
To register to attend the webinar, click here.