Analysis

5 Questions About The FCA's Big Financial Crime Push

By Mark Taylor (November 17, 2016, 7:57 PM GMT) -- British regulators have signaled plans to ease costly burdens banks must bear to comply with strict new anti-money laundering laws, but legal experts question how far they can ease up before running into compliance problems of their own.

The debate opened last week when Rob Gruppetta, head of financial crime at the Financial Conduct Authority, told an audience of anti-money laundering professionals that the regulator wants to rewrite its guidance to help the sector reduce their estimated £5 billion ($6.2 billion) annual AML compliance costs.

His remarks at the Annual AML & Financial Crime Conference fanned hope in an industry already...

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