Palantir extends reach into British state as it gets access to sensitive FCA data

TL;DR

Palantir has been granted access to sensitive UK financial regulation data by the Financial Conduct Authority (FCA).
The contract is a three-month trial aimed at using AI to tackle financial crime like fraud and money laundering.
Concerns have been raised about privacy and Palantir's ethical reliability given the sensitive nature of the data, which includes phone recordings, emails, and social media posts.
Palantir already holds over £500m in UK public deals with entities like the NHS and Ministry of Defence.
The FCA maintains Palantir will act as a data processor under strict controls, with data remaining UK-hosted and encrypted, and intellectual property retained by the FCA.
Despite guidelines encouraging synthetic data, the FCA opted for real data for a worthwhile test.

Continue reading the original article