Barclays to create a financial crime group
London -– Barclays, the UK financial services firm, is about to create a financial crime ‘super group’ that will connect the firm’s efforts to combat money laundering, fraud and market abuse.
The group will be headed by a financial crime director, who had not been appointed by press time. Brian Harte, group head of compliance and regulatory affairs at Barclays in London, says it is likely that the new group will report to the compliance division. The group “will bring into play the three key elements”, he says. “Although market abuse will remain a core compliance activity, it will bring under its wing fraud and money laundering. The hope is that it will be a more efficient way to
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