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Boost City regulator’s powers to help protect UK consumers from AI, says watchdog

The FCA's landmark review warns that AI will amplify cyber-crime and fraud risks, and urges ministers to toughen the City regulator's powers to protect consumers.

SourceThe Guardian AIAuthor: Kalyeena Makortoff Banking correspondent
Boost City regulator’s powers to help protect UK consumers from AI, says watchdog
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Under the source content permission, this page provides an editorial summary, key points, and a link to the original article.

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Key points

  • FCA review finds companies shifting from human-led to AI-enabled services for everyday consumers.
  • Review calls for stronger regulatory powers to mitigate AI-related cyber-crime and fraud risks.
  • Emphasis on balancing innovation with consumer protection.

Highlights and analysis are generated automatically and may contain errors. Check the original source.

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