Summary
What this article covers in 30 seconds
- Financial crime risk is being amplified by fragmented oversight and disconnected controls.
- Fraud, scams and money laundering are becoming more complex and interconnected.
- Fragmentation makes it harder to identify risks early and monitor control effectiveness.
- The FCA expects firms to show how controls operate in practice.
Joe Norburn, CEO at Recordsure, said financial crime risk is being amplified by fragmented oversight and disconnected controls.
As fraud, scams and money laundering become more complex and interconnected, many firms continue to manage risk across multiple systems, teams and data sources.
Fragmented controls and evidence
This fragmentation reduces visibility, making it harder to identify risks early, monitor control effectiveness and evidence outcomes clearly.
With the FCA focusing on the Consumer Duty and demonstrable outcomes, firms are expected to show how controls operate in practice, not just on paper. Organisations need consistent oversight to strengthen detection, monitoring and decision-making.
Financial crime is no longer just a function to manage, but a system-wide discipline that shapes resilience, trust and long-term competitiveness
Frequently asked questions
Fragmented oversight and disconnected controls amplify financial crime risk by reducing visibility.
It makes it harder to identify risks early, monitor control effectiveness and evidence outcomes clearly.
Firms are expected to show how controls operate in practice, not just on paper.