In this webinar we will discuss how FIs can apply innovative approaches developed for national security and law enforcement agencies to enhance the efficiency and effectiveness of their anti-financial crime controls.
On-Demand Webinar Summary:
By placing investigators at the heart of anti-financial crime frameworks – supported by technologies that harness all available information, including open source information – FIs can enhance compliance, enable business and provide higher quality information to law enforcement. Most importantly, this approach will increase their chances of preventing and disrupting the harm caused to society by financial crime.
Numerous voices within the anti-financial crime (AFC) community are calling for reform to the global AML/CFT framework. The Wolfsberg Group have recently released a statement that calls upon FIs to demonstrate effectiveness by transitioning toward a risk-based approach where AFC functions devote their resources toward A. investigating and mitigating high risk activity, and B. providing better intelligence to relevant government agencies.
FI should consider (and are) adopting innovations from the public sector - esp. national security agencies and law enforcement - where investigators are placed at the centre of AFC control frameworks, and equipped with technology that allows them to make better use of all available data, especially information from online sources
An investigator-centric approach can enhance compliance, enable business, provide higher quality information to law enforcement and (most importantly) increase their chances of preventing and disrupting the harm caused to society by financial crime.