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FCA' Dear CEO' AML letter says everyone could do better


AML-FCA' Dear CEO' letter to UK retail banks – STRIKES a somewhat disapproving tone, indicating that they continue to observe the same old failings in firms' AML controls framework.

The letter pulled no punches, particularly in the area of business risk assessments, which they described as being 'generally poor'.

The full letter dated 21st May is yet to appear on the website but financial crime consultants, Avyse Partners have produced a very good summary, worth a read, even if it makes uncomfortable reading – it can found here.