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AMI responds to FSA call for tighter fraud prevention

The Association of Mortgage Intermediaries has announced a raft of support designed to help members tackle fraud.

The Financial Services Authority has called on the industry to tighten fraud prevention measures and AMI has responded by publishing a plain English document for intermediary firms.

Chris Cummings, director of AMI, says: “The FSA has recently launched a new initiative – Fighting Fraud in Partnership – which calls on the industry to improve the fight against fraud in the financial services sector and make life harder on the criminal.

“As a natural development of its approach, the FSA says it will steadily be paying more attention to firms’ arrangements for managing their fraud risks as part of its general supervisory and other regulatory activities.

“Fraud is not just a large firm issue. In fact, the financial and reputational damage to a small firm can be even more disastrous.

“As the trade body for mortgage intermediaries, AMI has produced this information to help firms assess their fraud risks – and then set in place preventative measures.”

This is the first in a series of member guides that are aimed at helping AMI members run better businesses – rather than simply clarify the shifting regulatory scene.

The guide can be found on AMI’s website.


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