The FCA has published Finalised Guidance 14/5 – Examples of good and poor practice in banks’ control of financial crime risks in trade finance (FG14/5).

In FG14/5, the FCA sets out examples of good and poor practice in banks’ control of financial crime risks in trade finance. The examples will be inserted into the FCA’s regulatory guide, Financial crime: a guide for firms, which sets out the FCA’s expectations of firms’ financial crime systems and controls. The FCA is in the process of updating the guide to as set out in the Financial Crime Guide (amendment no.2) Instrument 2014.

The new guidance took effect on 12 June 2014.

View FG14/5 – Examples of good and poor practice in ‘Banks’ control of financial crime risks in trade finance, 12 June 2014

View FCA 2014/34: Financial Crime Guide (amendment no. 2) Instrument 2014, 12 June 2014