Consultation opened
25/04/2024
Consultation closed
27/06/2024
Policy Statement published
29/11/2024
29/11/2024
We summarise feedback and finalised changes following our consultation on updates to the Financial Crime Guide.
Our changes to the Financial Crime Guide[2] are designed to make sure it remains a valuable resource for firms.
The changes aim to help firms:
We focused on areas where firms wanted additional guidance to clarify our expectations. The changes reflect insights from our supervisory work on financial crime and incorporate updates from our recent publications.
This policy statement is relevant to:
The Guide will also be of interest to:
Firms need to consider what adjustments may be needed to their financial crime systems and controls. This could include changes to internal policies, monitoring systems, training, governance or other elements of systems and controls.
We will continue to engage with firms following this publication and publish our findings. These may result in further changes to the Guide.
In CP24/9: Financial Crime Guide updates[3] we consulted on proposed changes to the Guide relating to:
We also proposed adding references to cryptoassets and the Consumer Duty, along with consequential changes such as data security and updating case studies.
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