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Trade finance at risk from financial crime, FCA warns

UK regulator says 'significant room for improvement' needed at most banks

money

The UK Financial Conduct Authority (FCA) has warned that banks need to tighten up controls around trade reporting, claiming the business is susceptible to financial crime.

The warning was made in a report published on July 1, entitled Banks' control of financial crime risks in trade finance, and covers three areas – money laundering, terrorist financing and sanctions risk. The report claims trade

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