Financial News has revealed that the Financial Conduct Authority (FCA) targeted hundreds of businesses last year as part of a crackdown on money laundering reporting officers.
In March of last year, FN disclosed that the City watchdog had reached out to companies that had gone through three or more Money Laundering Reporting Officers (MLROs) in the preceding three years, stating that "in certain firms, substantial turnover within this function has impeded efficient supervision".
