UK FCA Criticized for Sharing Sensitive Financial Crime Data with Palantir in AI Trial
Finextra·medium signal
The UK Financial Conduct Authority drew criticism after it emerged the regulator shared sensitive financial crime investigation data with Palantir as part of an undisclosed AI trial to improve its financial crime detection capabilities. Critics argue the arrangement gave a controversial US firm access to private British financial data without adequate public scrutiny or parliamentary oversight. Highlights a growing pattern of regulators adopting AI tools without commensurate transparency about vendor data access.