FCA speaks on financial crime enforcement

Steve Smart of the FCA has spoken on the importance of detecting and disrupting harm caused by financial crime. He noted:

• that statistics show that those who fall victim to financial crime can lose confidence in the system and as a result not invest, which causes problems for the markets;
• that mandatory reimbursement has already made a big difference; and
• that fraud and money laundering are still big threats and taking a proactive approach to detection is the best strategy.