The FSA has published a speech by Sally Dewar (Managing Director, Wholesale, FSA) entitled Tackling financial crime in the current economic climate.
The main points in her speech are:
- Financial crime continues to remain a key priority for the FSA and it should be for firms too. It is vital that firms continue to focus on strengthening their controls around those operational risks mentioned in the Financial Risk Outlook 2009.
- The FSA will continue to help firms, by reviewing industry practices and highlighting areas of good and poor practice so that firms can benchmark their own controls.
- The FSA will pursue its credible deterrence agenda by taking action itself where it has the lead responsibility and through key partners where it does not.
- Sharing information and working in partnership with other agencies is crucial in staying one step ahead of the fraudsters and the FSA must work more effectively in certain areas, particularly in raising consumer awareness of financial crime.
View FSA speech - Tackling financial crime in the current economic climate, 27 April 2009