The Treasury Committee publishes transcript of evidence given by FCA and PSR on economic crime

Regulatory Updates | 15/05/19

The FCA and PSR representatives who gave evidence were; the executive director for investment, wholesale and specialists division at the Financial Conduct Authority (FCA), Megan Butler, the co-managing director at the Payment Systems Regulator (PSR), Chris Hemsley, and the FCA’s executive director, enforcement and market oversight, Mark Steward. They acknowledged the growing issue of APP fraud which is on a list of high priority for the regulators and said that waves of new technology create positive change for consumers but also allow more opportunities for fraudsters. The regulators spoke of the initiatives which have heped to tackle some of the issues.