FCA’s survey on Financial Crime Controls in Corporate Finance firms exposes major AML gaps, with two-thirds failing key standards and urging stronger risk assessment, due diligence, and oversight

The FCA’s review reveals that a notable proportion of corporate finance firms fail to maintain comprehensive business-wide risk assessments or adequately monitor their appointed representatives. Strengthening these controls is essential to ensuring compliance with the Money Laundering Regulations and reducing the sector’s vulnerability to money laundering, fraud, and other financial crimes…