Industry urged to guard against ‘economically motivated crime’

CAMBRIDGE, UK – In an early September speech to the Cambridge Economic Crime Symposium, Philip Robinson, financial crime sector leader of the Financial Services Authority (FSA), stressed the need for firms to continue to guard against "economically motivated crime".

Robinson emphasised as being fundamental the need for firms to adopt a "risk-based approach to AML (anti-money laundering)". He went on: "In a risk-based approach, senior management must be involved in the design of the risk assessment process and involved in the higher risk cases. Our new rules make clear that senior management bear the responsibility in this area. Firms must also ensure that relevant staff are trained to deal with politically exposed persons risks (PEP’s); that they have

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here