Mastodawn

#Palantir trial plugs into #UK financial watchdog's data trove
#FinancialConductAuthority (#FCA) handed analytics biz 3mo contract worth more than £30,000/wk to analyze its "data lake," a repository of intelligence covering fraud, money laundering, insider trading, and consumer complaints.
Palantir will gain access to data including case files, reports from banks and crypto firms, and comms such as #emails, #phone records, and #socialmedia material tied to investigations.
https://www.theregister.com/2026/03/23/palantir_fca/

Palantir trial plugs into UK financial watchdog's data trove

: US analytics firm handed access to sensitive intel, raising yet more questions about vendor lock-in

The Register

TheBadPlace 1d ago

yahoo news | 'Very significant privacy concerns': UK hands over financial regulation data to...

The UK Financial Conduct Authority (FCA) has awarded Palantir a three‑month trial contract worth more than £30,000 a week to feed the company its regulatory data and let its AI tools look for patterns that could help stop fraud, money‑laundering, insider‑trading and other financial crime. The deal gives Palantir access to highly sensitive information, including case files, bank reports, consumer complaints and personally identifiable details such as emails and phone numbers.

Critics have warned that handing such data to the US‑based firm raises “very significant privacy concerns”. Palantir’s track record – including contracts with US Immigration and Customs Enforcement and links to the Israeli military – has already drawn criticism from MPs over human‑rights issues. Moreover, the FCA chose to run the pilot on real regulatory data rather than synthetic data, prompting questions about whether adequate safeguards are in place to prevent misuse or accidental exposure of private information.

The FCA says the data will remain stored in the UK, that it will retain all intellectual‑property rights to any insights generated, and that Palantir must delete the data once the contract ends. An FCA spokesperson added that a competitive procurement process and strict controls were used to protect the information. Nonetheless, observers caution that this small‑scale trial could pave the way for broader Palantir involvement across the UK public sector, heightening the need for robust oversight and privacy protections.

#uk #financialconductauthority #palantir #ukpublicsector

'Very significant privacy concerns': UK hands over financial regulation data to Palantir to help tackle financial crime

Palantir is doing a trial contract

TechRadar

TheBadPlace 1d ago

bing news | 'Very significant privacy concerns': UK hands over financial regulation data to Palantir to help tackle financial crime

The UK Financial Conduct Authority (FCA) has awarded Palantir a three‑month trial contract, valued at more than £30,000 per week, to analyse the regulator’s data in order to spot financial crime such as fraud, money laundering and insider trading. Under the deal Palantir will gain access to highly sensitive information – including bank reports, consumer complaints and personally identifiable data like emails and phone numbers – and will apply its AI‑driven analytics to sift through the volume much faster than human analysts.

Critics have warned that handing this level of detail to the US‑based data firm raises “very significant privacy concerns”. Palantir’s track record includes contracts with US Immigration and Customs Enforcement, the Israeli military and a growing portfolio of UK public‑sector work worth over £500 million across the NHS, policing and defence, prompting MPs to label the company “questionable” on human‑rights grounds. The FCA insists that the data will remain stored in the UK, that it will retain intellectual‑property rights on any insights, and that Palantir must delete the information when the pilot ends, although observers note the decision to use real‑world data rather than synthetic data as a further risk.

If the trial proves successful, the FCA could extend the partnership, potentially embedding Palantir’s analytics more deeply into UK financial regulation. The arrangement underscores the tension between leveraging advanced AI tools to combat illicit financial activity and safeguarding the privacy of individuals whose data may be exposed in the process.

#uk #financialconductauthority #palantir #financialcrime

'Very significant privacy concerns': UK hands over financial regulation data to Palantir to help tackle financial crime

Palantir is doing a trial contract

TechRadar

TheBadPlace 1d ago

Novara Media | Palantir Has Been Awarded yet Another UK Government Contract by Sophia Sheera

The controversial US spytech firm Palantir has been awarded a contract to analyse highly sensitive government data, despite loud opposition from campaigners decrying the firm’s role in abetting the Gaza genocide and the immigration crackdown in the US.

Palantir will be paid £30,000 per month to analyse highly sensitive data from the Financial Conduct Authority (FCA), raising questions about what the firm would do with that data – and why Palantir is ever more embedded in the British state.

The Miami-based firm already boasts contracts with the UK government worth over £500m, with its technology implanted in the NHS, the police and the military.

#palantir #ukgovernment #financialconductauthority #peterthiel

Palantir Has Been Awarded yet Another UK Government Contract

Novara Media

TheBadPlace 1d ago

bing news | MPs urge UK government to halt contract giving Palantir FCA data access by undefined

MPs have urged the UK government to halt a new contract that gives US data‑analytics firm Palantir access to the Financial Conduct Authority’s (FCA) internal intelligence. The FCA intends to use Palantir’s AI to analyse two years of sensitive regulatory data in a 12‑week trial aimed at combating financial crime. Liberal Democrat Treasury spokesperson Daisy Cooper and Green Party MP Siân Berry warned that awarding such a contract to a firm closely tied to billionaire Peter Thiel and former President Donald Trump could be a “huge error of judgment” and pose a national‑security risk.

Critics stress that Palantir would act only as a “data processor”, with the FCA retaining exclusive control over encryption keys and UK‑based storage, and that all data must be destroyed after the trial. However, insiders say details on how the “obvious risks” will be mitigated are sparse, and there are fears that the company could inadvertently gain access to investigations involving high‑profile figures such as former banker Jes Staley and hedge‑fund boss Crispin Odey. The contract also raises concerns about creating a “single behemoth” that could lock the public sector into a US‑owned platform, limiting domestic competition.

Palantir’s European chief Louis Mosley has sought meetings with MPs to dispel “misconceptions”, insisting the firm cannot use customer data for its own purposes and that the software will only process data under the FCA’s strict instructions. The FCA maintains that the trial will not include trading records, that data cannot be commercialised, and that the controls in place will prevent any “lock‑in”. Nonetheless, watchdogs and opposition parties continue to call for an immediate investigation and for the contract to be stopped before it proceeds.

#mps #ukgovernment #palantir #fca #financialconductauthority