Financial crime: protecting the hive

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Speaking at the Law Society Economic Crime Conference, FCA Executive Director Steve Smart stated that fraud accounted for nearly half of all crime in England and Wales last year, with an estimated over £100bn laundered through or within the UK annually. He highlighted that the FCA acts against threats spanning fraud, money laundering, and insider dealing. Smart urged cross-system partnership to effectively combat the worsening threat of large-scale financial crime.