Welcome to The Fintech Files, your weekly roundup from FN’s fintech correspondent Yolanda Bobeldijk, keeping you up-to-date with the latest developments in financial tech and innovation. 

Crypto firms are better crime fighters
Yes, you have heard it here first. Crypto firms are better at spotting fraud than banks. That is according to Fred Ellis, a financial intelligence analyst with the City of London Police, which has recently been training its officers on crypto crimebusting. Most of the big banks have been shunning crypto due to its anonymous nature. But funnily enough, most crypto firms are actually very good at investigating the source of funds and doing the necessary ‘know-your-customer’ checks — in some cases better than the banks, he said.