The Financial Services Authority recently published “CP11/12: Financial crime: a guide for firms“ seeking views on the FSA proposal for a new regulatory guide, Financial Crime: a guide for firms including bribery and corruption.

The guide:

Provides guidance on steps firms can take to reduce their financial crime risk.

Topics covered within the guide:

• Financial Crime
• Anti-Money laundering
• Terrorist financing
• Fraud
• Data Security
• Bribery and corruption
• Sanctions
• Proliferation financing

Topics under consultation

• Publication
• Framework, status and application
• Structure and scope
• Content
• Equality and diversity
• Cost benefit

We wrote yesterday that the FSA was laying down a marker of its intention to regulate financial crime.

This FSA proposal to issue a guide on financial crime for firms when coupled with statements in the Willis Notice underscore the FSA’s intention to be a leading enforcement agency for financial crime and bribery.