FSA unveils crime plans
LONDON – In late June, UK Financial Services Authority (FSA) officials outlined their enhanced approach to fighting both money laundering and financial crime at two conferences held in London.
Philip Robinson, financial crime sector leader at the FSA, made it clear in his speech to one conference on financial crime that when it comes to money laundering, he expects "senior management to manage those risks as they would many others to which their firm is exposed – putting resources where there is most marginal benefit and to resource that activity adequately, against the backdrop of their legal obligations." He added that the FSA was, in its inspections of firms' AML frameworks
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