The report confirmed banks pulling away from companies at the lower end of the financial services industry, such as money transfer firms and pawnbrokers, to cut compliance costs and regulatory scrutiny. The UK Financial Conduct Authority has released a report focused on the 'de-risking' policies of banks. It found that banks are not being as "risk aware" and is concerned about their ability to manage risk. The FCA is set to begin probing banks seen to be denying services to 'risky' customers to avoid money-laundering concerns.
The UK Financial Conduct Authority has released a report focused on the 'de-risking' policies of banks. It found that banks are not being as "risk aware" and is concerned about their ability to manage risk. The FCA is set to begin probing banks seen to be denying services to 'risky' customers to avoid money-laundering concerns.