In July 2019, the UK's Financial Conduct Authority (FCA)
held a week-long Global Anti-Money Laundering and Financial Crime
TechSprint (FCA TechSprint) event. The FCA TechSprint looked at
ways to effectively combat financial crime and money laundering
within the financial services industry. On 16 October 2019, the
Information Commissioner's Office (ICO) released a blog (here) that focuses on the
lessons learnt from the FCA TechSprint.
Background
The FCA TechSprint brought together teams from all over the
world to explore how encryption techniques known as privacy
enhancing technologies (PETs) can facilitate data and knowledge
sharing among financial institutions, regulators and law
enforcement agencies to detect and prevent money laundering and
financial crime, while remaining compliant with data protection and
privacy laws.
