FINRA focuses on financial crime in annual exam report

FINRA New York

The Financial Industry Regulatory Authority’s (FINRA) annual report on examinations and risk monitoring indicated a new emphasis for the regulator on combating financial crime, particularly cybercrime.

For the first time, the “2023 Report on FINRA’s Examination and Risk Monitoring Program” advised firms how they should protect themselves and their customers against cybercrimes, including identity theft, account takeovers, ransomware, and network intrusions.

The annual report highlighted “FINRA’s increased focus on protecting investors and safeguarding market integrity against these ongoing threats.”

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