FCA has published a MoU with Synectics Solutions Limited, which replaces a 2014 MoU with CIFAS and addresses how the two organisations will work together in relation to the provision of information in relation to the Immigration Act. Banks and building societies must not open current accounts for persons who are in the UK and require leave to enter or remain in the UK but do not have it unless the institution has carried out certain checks. Synectics enables them to carry out these checks and, under the MoU, will provide FCA with information on requests it receives.
