By AML Intelligence Correspondent
BRITAIN’s Financial Conduct Authority (FCA) has written to wealth managers and stockbrokers warning their sector is “inherently high risk” for financial crime.
In a “Dear CEO” letter this week the authority starkly reminds the financial chiefs that: “We have seen firms launder the assets of illegitimate clients through greed or
incompetence and others squander or even steal the assets of legitimate clients through frauds and scams,” it notes.
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