Muleheaded - FCA finds stubborn failings in UK payment account providers

If fraud constitutes 40% of all reported crime in England & Wales and the funds are laundered through accounts operated by regulated entities, one would think these would be working hard to frustrate the criminals: research by the UK Financial Conduct Authority (FCA) found that most are making some effort but "there were many areas we identified where firms should be doing more".

If fraud constitutes 40% of all reported crime in England & Wales [1] and the funds are laundered through accounts operated by regulated entities, one would think these would be working hard to frustrate the criminals: research by the UK Financial Conduct Authority (FCA) [2] found that most are making some effort but "there were many areas we identified where firms should be doing more".