Following an earlier consultation the FCA has amended its guidance on good and poor practice relating to banks’ control of financial crime risks in trade finance, as contained in “Financial crime: a guide for firms”. The amendments are effective from 12 June 2014. In addition the FCA has published a summary of feedback to the […]

The FCA has published consultation guidance (GC13/3) on its thematic review, “Banks’ control of financial crime risks in trade finance” The guidance includes, amongst others, examples of good and poor practice in: • risk assessment; • policies and procedures; and • training and awareness. The deadline for comments is 4 October 2013. Copies of http://www.fca.org.uk/static/documents/guidance-consultations/gc13-03.pdf http://www.fca.org.uk/static/documents/thematic-reviews/tr-13-03.pdf webpage http://www.fca.org.uk/news/guidance-consultations/gc13-03

The FCA has published a report based on a thematic review on “Banks’ control of financial crime risks in trade finance”. This report sets out the FCA’s recent thematic review and describes how banks in the UK control money laundering, terrorist financing and sanctions risks in trade finance business. Following the thematic review the FCA’s […]