Letters: Time for special measures
[Re: Watchdog puts Met Police under special measures, June 29]
This is a regrettable but necessary measure. HM Inspectorate of Constabulary is to be commended. This is about weak leadership over a sustained timescale , a failure to manage out poor or criminal behaviour by a small minority of police. Most Met officers do an excellent job. Sadiq Khan as Mayor of London for 6 years has been slow to deal with this serious issue, yet again others have had to intervene as the Mayor is asleep at the wheel of the London Government.
Tony Devenish AM
[Re: FCA cracks down on fraud by using latest analytics, June 23]
The announcement by the FCA that they are seeking more tech experts in the fight against fraud is a positive sign that financial regulators are fully embracing the use of technology. We’re not talking about small numbers of transactions that need to be monitored. Institutions can be tasked with thousands of activities to analyse on any given day. The use of automated technology and perpetual KYC policies to prevent online financial misconduct is absolutely crucial to enable effective monitoring such as monitoring sanctions lists.
Artificial intelligence, data analytics and data science are three areas of technology that have huge potential benefit in beating financial crime, but are yet to secure mainstream use. In the coming years, these technologies will revolutionise the financial regulation and compliance industry.
Alex Richter