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FCA consults on anti-money laundering supervision

Banks including HSBC, Standard Chartered and RBS have all been fined heavily for lax controls in recent years

FCA consults on anti-money laundering supervision

The City regulator has opened a consultation with financial firms over its future approach to anti-money laundering supervision.

The Financial Conduct Authority today published the remit for a new supervisory body proposed by the UK government in March 2017 to "tackle potential weaknesses in the supervisory system that criminals and terrorists may be trying to exploit".

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