The UK Financial Conduct Authority (FCA) has announced a Quantum Experimentation Group to explore how quantum machine learning could help detect money laundering and fraud. Due to launch in the first quarter of 2027, the group will bring together financial services firms, quantum technology providers and national research laboratories. The initiative builds on the FCA’s quantum computing research and mirrors its emphasis on practical technology testing through the AI Lab. Participants will use an FCA synthetic dataset, comprising artificially generated data, to overcome difficulties accessing suitable testing data. The FCA will define problem statements and work with participants to assess practical applications, technological limitations and barriers to experimentation, including their potential implications for regulation. Findings will guide future testing. Firms, quantum technology providers and national research laboratories can register interest by Dec. 31, 2026.
UK FCA announces quantum experimentation group to test money laundering and fraud detection
The UK Financial Conduct Authority will launch a Quantum Experimentation Group in the first quarter of 2027, initially exploring quantum machine learning to detect money laundering and fraud. Firms, technology providers and national research laboratories will use an FCA synthetic dataset for testing. The work will examine practical applications, limitations and potential regulatory implications.