Archive:August 14, 2017

RegTech and AML: New UK Report

RegTech and AML: New UK Report

By Jonathan Lawrence

The UK Financial Conduct Authority (FCA) published a report on 2 August entitled “’New Technologies and Anti-Money Laundering Compliance”.  The report details findings of three months of research by the authors PA Consulting. The work included over 40 interviews with regulated firms, technology providers, and other bodies. The report sets out respondents’ views on topics such as:

  • What are the key functions of new and emerging technologies related to anti-money laundering (AML) compliance, and how can they aid compliance activities?
  • What challenges do firms face in introducing new technologies?
  • What good practice examples and lessons are available for firms considering new compliance technologies?
  • What steps could the FCA take to encourage more innovation in AML compliance?

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