Amid concerns about a lack of financial crime controls at certain firms — including unregulated lenders, money brokers and custody providers — the U.K.’s Financial Conduct Authority (FCA) is pledging to step up its oversight of these kinds of firms, and calling on regulated firms to boost their due diligence. In particular, the FCA said that it’s concerned about the potential for these firms to be used as conduits to facilitate financial crime. The regulator said that it’s seeing firms that are improperly relying on financial crime controls created for a parent company or affiliate, rather than developing company-specific controls. “Each individual firm within a group must assess whether these controls are appropriate for their financial crime risks, governance and operations. “We will use this and other intelligence to identify and disrupt financial crime risks in this sector,” the FCA said.