TCC Group (TCC, Recordsure and Momenta) recently featured in the Fraud Prevention Summit (FPS) article highlighting a growing challenge facing financial services firms: fragmentation in financial crime oversight is no longer just an organisational issue – it is a material risk.
As financial crime becomes more complex and interconnected, traditional, siloed approaches are increasingly misaligned with how threats operate today. Fraud, money laundering, scams and crypto-enabled crime are converging, exposing weaknesses not only within individual firms but across the wider financial system.
Many organisations continue to manage financial crime through fragmented operating models, with responsibilities split across teams, systems and functions. This disconnect can lead to inconsistent controls, gaps in communication, and limited visibility of emerging risks.
The article also reflects growing regulatory focus on collective action and coordination. The FCA has emphasised that no single organisation can tackle financial crime alone, reinforcing the need for stronger alignment across firms and sectors.
Without greater integration, fragmentation can lead to weaker outcomes – with risk signals missed, responses delayed, and controls failing where processes intersect. Firms are increasingly challenged to move beyond compliance silos and adopt a more connected, enterprise-wide approach to financial crime risk.
This shift is fundamental to improving resilience, strengthening controls, and delivering more effective outcomes in an environment where financial crime is evolving faster than ever.
“Financial crime is no longer just a function to manage, but a system-wide discipline that shapes resilience, trust and long-term competitiveness.”– Joe Norburn CEO TCC Group