In her speech, she emphasised that financial crime and the criminal activity it facilitates cause incalculable damage to society – our joint endeavour is to monitor entry, devise controls and erect barriers powerful enough to stop criminals from causing further harm.

Ms Butler said that new technologies give us unprecedented access to innovative products and services and flexibility in how we use them. But they also give criminals sophisticated tools to bend the financial system to their own ends.

She argued that when used to the right ends, these technologies can be game-changers in the fight against financial crime – both for industry and the regulator.

The speech can be read in full here.