In December 2007, the Financial Services
Authority (FSA) imposed a fine of £1.26m on
Norwich Union Life (part of the Aviva Group), one of
the largest life insurance businesses in the UK with
around seven million customers. The fine related to
failures to take reasonable care to establish and
maintain effective systems and controls for
countering the risks of financial crime. The fine is
the latest confirmation of the emphasis being
placed on protecting clients and customers from
the threat of financial crime.
