FCA to explore using quantum computing to combat financial crime

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FCA will establish the Quantum Experimentation Group to explore practical applications of quantum computing in financial services. The first phase will focus on using quantum machine learning to detect money laundering and fraud, and is scheduled to launch in the first quarter of 2027. Participants will use FCA synthetic datasets for testing. Financial institutions, quantum technology providers, and national research laboratories can register to join by December 31, 2026.