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UK wholesale brokers to see close regulatory attention on money laundering

By Phoebe Seers and Sofia Gerace ( January 23, 2025, 16:30 GMT | Insight) -- The UK’s Financial Conduct Authority has promised a close collaboration with wholesale brokers, after a review identified deficiencies in their handling of money laundering risks. Lawyers predicted more enforcement action from the FCA against brokers over money laundering failures, and said firms might consider using AI to get on top of transaction monitoring.The UK’s Financial Conduct Authority has promised to work closely with wholesale brokers, after a review identified deficiencies in their handling of money laundering risks (see here). ...

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