The process of obtaining FCA authorisation can be long and complex, requiring significant effort and resources from financial services firms. However, making mistakes during the
As a previous MLRO and Head of Compliance within the payment sector, and now as Neopay’s Consultancy Manager, I have seen first-hand the importance of
In its recently released Business Plan 2023/24, the Financial Conduct Authority (FCA) has outlined its ambitious programme for the next 12 months, which is designed
In today’s fast-paced business environment, financial crime is becoming an increasingly significant concern for firms of all sizes. Activities such as money laundering, fraud, and
On 30 March 2023, the FCA held a webinar discussing their expectations for firms regarding the implementation of the Consumer Duty, which is set to
Customer Risk Assessments are fundamental to Financial Crime compliance and a priority of the FCA. They help financial institutions identify and assess the risks associated
The Financial Conduct Authority (FCA) has issued a new “Dear CEO” letter to payment firms in the UK. The FCA “remain[s] concerned” that many payment
The FCA has launched their Consumer Duty survey to understand the progress firms are making in implementing the Duty. The survey, which will be carried
Although the final Consumer Duty deadline is July, there has been some key milestones, including an interim deadline of 30th April 2023 when firms need
In December 2022, HM Treasury published the “Anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”): Supervision Report 2020-22”. The financial crime report provides