Crime fighting
Dean Curtis, UK managing director at LexisNexis Risk Solutions said financial firms were struggling to keep up with changing tactics and combatting crime.
He said: For those tasked with combatting financial crime it can feel as if they are fighting twenty first century criminals with twentieth century tools,”
“Whilst the FCA is assisting the acceleration and adoption of technology to fight financial crime through its regulatory sandbox, more needs to be done.
“Keeping pace with criminal activity and understanding where technology has advantages over humans, in areas such as machine learning, will determine the future of many industries, none more so than financial crime prevention,” he added.
