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FCA puts firms on notice over anti-money-laundering shortfalls

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Photo: GRIP montage/FCA

Arun Srivastava | Paul Hastings, Nina Moffatt | Paul Hastings

3 min read
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Issues highlighted in the report include the quality of customer risk assessment, detailed practical guidance, recordkeeping, and independent second-line assurance.

The FCA has provided feedback on its 2025 multi-firm review of customer due diligence (CDD), enhanced due diligence (EDD), and ongoing due diligence controls across various regulated sectors.

The feedback relates to the following topics:

  • policies and procedures;
  • CDD and EDD processes; and
  • compliance monitoring and audit.

The FCA’s review is

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