Watchdog ‘took too long’ to close firm set up by money launderer

Featured in The Times

Financial Crime


Kathryn Westmore, from the Royal United Services Institute think tank, said: “It has taken the FCA a worryingly long time to deal with Dzing, only applying restrictions to the firm when this data from the PSR became available. It has been known for several years that key figures involved with Dzing had, at best, questionable track records when it comes to anti-money laundering. This case raises serious questions about the level of due diligence that the FCA apply.”