At FSA’s financial crime conference, it launched a consultation on a financial crime guide. The guide collates existing FSA materials and guidance drawn from thematic reviews, and covers all areas of financial crime, including money laundering, fraud, sanctions and bribery. It is aimed at helping firms to reduce their financial crime risk. FSA stresses the guide does not contain rules nor impose any new requirements, and is not intended to conflict with the Joint Money Laundering Steering Group guidance. The guide looks at governance, risk assessment, policies and procedures and training in all areas of financial crime as well as issues specific to particular areas. The guide is structured to provide firms with a self-assessment questionnaire and examples of good and poor practice. Tracey McDermott explained the context of the proposals while discussing how FSA and later the Financial Conduct Authority will focus on the prevention of financial crime. FSA has also published two further thematic reviews, dealing with how banks manage their money laundering risks, and the adequacy of lenders’ systems and controls to detect and prevent mortgage fraud. FSA invites comments on the guide by 21 September. (Source:  Consultation Paper 11/12**: Financial Crime: A Guide for Firms and Tracey McDermott Speech at Financial Crime Conference)