Citywire: Platforms tighten AML controls as FCA expectations rise
A recent Citywire article highlights how investment platforms are strengthening anti-money laundering (AML) controls as regulatory scrutiny increases. More firms are moving away from relying solely on advisers for customer due diligence and are introducing their own identity verification and AML screening processes. The article points to SS&C Hubwise’s move to a non-reliance model, reflecting a wider […]
What the FCA’s partial suspension of the motor finance scheme means for firms
The FCA’s motor finance compensation scheme was partially suspended on 2nd July 2026 following a decision from the Upper Tribunal, while challenges from four commercial parties (Consumer Voice, represented by Courmacs Legal, Volkswagen Financial Services, Mercedes Benz Financial Services and Crédit Agricole Auto Finance) are heard. The challenges are expected to be considered by the Upper Tribunal either between 14th–18th December […]
FPS: Fragmented financial crime oversight creates risks
The scale and complexity of the threat continue to grow. The Office for National Statistics estimated around 4.2 million fraud incidents in the year ending March 2025, a 31% increase on the previous year. Momenta’s CEO, Joe Norburn, has been featured in the Fraud Prevention Summit article, highlighting how fragmented financial crime oversight is creating new risks for […]
Financial crime controls after the FCA review: Five priorities for insurers
The FCA’s recent review of insurers’ financial crime controls highlights important findings for retail, wholesale, and life insurance firms. A selection of the largest firms were asked to submit documents in response to 38 questions across ten groups of financial crime controls. Overall, the regulator found that financial crime frameworks are generally in place but not always sufficiently embedded in practice. For insurers, the challenge is therefore to demonstrate that […]
Business & Accountancy Daily: Fragmented controls raise financial crime risk for firms
Recently featured in Business & Accountancy Daily, Joe Norburn, CEO at TCC Group (TCC & Momenta), highlights how financial crime has evolved beyond a compliance function into a system-wide operational challenge. As fraud, scams and money laundering become increasingly interconnected, many firms continue to manage risk through fragmented structures, with some teams operating across disconnected […]
Financial crime controls in a system-wide risk environment
Financial crime is no longer confined to individual firms. As fraud, money laundering, sanctions evasion and cyber threats become increasingly interconnected, regulators expect firms to demonstrate that controls deliver real-world outcomes. This requires a shift towards intelligence-led, system-wide risk management and the ability to adapt quickly as threats evolve. The FCA is raising expectations for how firms […]
European Business Magazine: Financial crime needs a team sport approach
Recently featured in European Business Magazine, Joe Norburn, CEO at TCC Group (TCC & Momenta), highlights that financial crime is no longer a siloed compliance issue but a system-wide risk. As fraud, scams and money laundering become increasingly interconnected, firms are still responding through fragmented operating models, with responsibility split across teams, systems and data. […]
IFA: The FCA’s Consumer Duty challenge is changing shape
In a recent feature in IFA Magazine, Joe Norburn, CEO at TCC Group(TCC, Recordsure and Momenta), highlights how the FCA’s Consumer Duty is moving beyond initial implementation and becoming embedded within business-as-usual operations. As regulatory expectations mature, firms are now required to demonstrate how they are continuously delivering, monitoring and improving customer outcomes in practice. The challenge is increasingly operational, with firms […]
What the FCA motor finance redress scheme update means for lenders
The FCA has issued its latest update to motor finance firms and lenders following legal challenges to its proposed motor finance redress scheme. The regulator continues to iterate that the scheme is its preferred way of delivering redress to the millions of customers potentially affected. However, the legal process is now underway and will shape if, how and when it can be delivered. Earlier this month, the FCA […]
How FOS reforms will affect financial services firms
The government has recently set out its plans to reform the Financial Ombudsman Service (FOS) to ensure clarity and predictability for the consumers and firms who use it. This follows a consultation period from July to October 2025, which received over 600 responses from firms, consumer groups and other stakeholders. At a high level, the reforms are focused on improving […]