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

3 hours ago

Palantir granted access to sensitive UK financial regulation data by the Financial Conduct Authority (FCA).
Contract aims to help FCA tackle financial crimes like fraud, money laundering, and insider trading.
Three-month trial worth over £30,000 per week to analyze FCA's 'data lake'.
Deal part of FCA's effort to use digital intelligence to regulate 42,000 financial firms.
Palantir already holds over £500m in UK public contracts, including NHS, military, and police.
Concerns raised over privacy and ethical reliability of Palantir handling sensitive data.
Palantir's AI system, Foundry, to process highly sensitive case files, fraud reports, and consumer complaints.
Data includes phone call recordings, emails, and social media posts.
Criticism from MPs over Palantir's involvement in controversial activities like Israeli military operations.
FCA states Palantir will act as a 'data processor' with strict controls and data destruction post-contract.
Privacy concerns highlighted over using real data instead of synthetic data for AI training.
FCA emphasizes strict confidentiality requirements for Palantir's data handling.

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