FinTech and Fincrime Exchange launches with inaugural meeting at RUSI headquarters

The Royal United Services Institute’s (RUSI) Centre for Financial Crime and Security Studies is due to host the first meeting of the FinTech and Fincrime Exchange (FFE), a new initiative orchestrated to promote an increased understanding of financial crime by the FinTech industry.

Organised in collaboration with FINTRAIL, a financial crime risk management company, this initiative has been conceived due to the recognition that, as a rapidly growing industry, FinTech providers, much like traditional financial institutions, must ensure their organisations are not misused for financial crime purposes.

Technological innovation has undeniably reshaped the financial landscape, in which efficiency, customer experience and ease of use is prioritised by FinTech providers in a sharp contrast to traditional financial institutions. Nonetheless, the key financial crime threats and vulnerabilities remain, as criminals and terrorists will seek to exploit the system for their own illegal gains, including by way of money laundering, terrorist financing, cyber crime, bribery and fraud.

While there’s gradually increasing awareness of these issues, there are few spaces in which relevant personnel from the FinTech world can engage with one another, discuss shared challenges and foster a greater level of financial crime understanding. That being so, this initiative seeks to fill the gap through the creation of the FFE, the cohort of which will aim to meet once every two months in order to debate the key issues duly identified by its members.

The FFE’s prime objective is to inform, debate and develop knowledge and Best Practice in the fight against financial crime that both policy-makers and regulators can adopt.

About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute's George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014 and as Editor of The Paper (Pro-Activ Publications' dedicated business newspaper for security professionals) in September 2015. Brian was appointed Editor of Risk Xtra at Pro-Activ Publications in May 2018.

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