FCA’s Palantir deal could expose UK financial data to Trump’s US, critics fear
The Financial Conduct Authority (FCA) has entered into a deal with Palantir to utilize AI for crime detection, raising concerns about data privacy. Critics, including MP Martin Wrigley, fear that this partnership could expose sensitive UK financial data to US authorities under the US Cloud Act. The FCA insists it will remain the data controller and that no intelligence will be shared, but skepticism remains regarding the implications of US laws on the data handled by Palantir.
- ▪The FCA is using Palantir's AI systems to analyze sensitive financial data.
- ▪Concerns have been raised about the potential for US authorities to access this data under the US Cloud Act.
- ▪Palantir has previously faced scrutiny for its contracts with US immigration enforcement and other government agencies.
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Palantir, co-founded by Trump supporter Peter Thiel (right), signed a deal to help the Financial Conduct Authority detect crime by AI. Composite: Getty imagesView image in fullscreenPalantir, co-founded by Trump supporter Peter Thiel (right), signed a deal to help the Financial Conduct Authority detect crime by AI. Composite: Getty imagesPalantirFCA’s Palantir deal could expose UK financial data to Trump’s US, critics fearExclusive: MP and campaigners say sensitive citizen and company data could be subject to US disclosure lawsRobert Booth UK technology editorMon 1 Jun 2026 00.00 EDTSharePrefer the Guardian on GoogleThe UK’s financial watchdog is being urged to prove its relationship with the US tech company Palantir will not provide the Trump administration with backdoor access to troves…
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