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The UK’s FCA is testing Palantir’s access to sensitive financial data from 42,000 firms to fight fraud using AI, under strict controls.
The UK’s Financial Conduct Authority has launched a three-month trial allowing Palantir access to its internal data lake—containing sensitive financial records, emails, and social media data—from 42,000 regulated firms to combat fraud and money laundering using AI.
The $30,000-per-week contract, part of broader UK-US tech collaboration, grants Palantir limited access under strict controls, including UK-based data hosting and mandatory data destruction post-trial.
While the FCA asserts robust oversight and security, concerns persist over privacy, foreign access to intelligence, and the growing influence of private tech firms in public oversight.
The move follows Palantir’s expanding role in UK government, including major contracts with the NHS and military, amid ongoing scrutiny over its ties to controversial figures and past projects.
La FCA del Reino Unido está probando el acceso de Palantir a datos financieros confidenciales de 42,000 empresas para luchar contra el fraude utilizando IA, bajo estrictos controles.