An increasingly globalised business environment, coupled with a growth in technology, continues to increase the risk of financial crime for all institutions. With this in mind, our Regulatory Compliance Consulting team have identified what they see as the key financial crime threats and issues that should be of focus for Heads of Financial Crime, Money Laundering Reporting Officers, Compliance Officers and members of management. Some of these are emerging themes, whilst others are more traditional areas where we continue to see issues in control and risk management.
Our financial crime outlook series will explore each of these themes in more detail, providing both global perspectives and regional insights. If you would like to receive updates, please register.
An increasingly globalised business environment, coupled with a growth in technology, continues to increase the risk of financial crime for all institutions.
The transparency of beneficial ownership is facing increasing scrutiny and this trend is set to continue in 2019.
Governments and financial institutions globally are grappling with diminishing public trust.
In 2019, the international sanctions landscape is changing at a faster rate than businesses and financial institutions are able to keep up with.
Since the financial crisis in the late 2000s, the only steady area of job growth in the US financial services has been in legal, compliance and risk disciplines..
There is wide recognition from business and regulators alike that technology, in particular artificial intelligence (AI), will become increasingly important to combat financial crime.