Tag: Financial Crime Risk Assessment

Regulators no longer accept a firm's word that its financial crime risk governance is sound. Today's supervisors expect to see the architecture behind every...

Regulatory scrutiny of financial crime risk assessments has intensified dramatically in recent years, marking the end of an era in which these documents were...

In many large regulated organisations, friction can arise between the business, risk and compliance, and internal audit teams. These groups represent the widely recognised...

Financial institutions operate on complex systems that the public rarely notices. Beneath everyday banking services sit governance structures, risk frameworks, control environments and layers...

Technology has become the backbone of modern financial crime risk assessments. Where these assessments were once built on spreadsheets, word documents and email-driven workflows,...

Across many financial institutions, the Financial Crime Risk Assessment (FCRA) is still widely misunderstood. Whether it appears as an enterprise-wide ML/TF/PF assessment in Australia,...

Financial crime risk assessments used to be treated as box-ticking exercises — annual documents produced to keep regulators satisfied, then filed away until the...

Technology, governance and methodology all play a part in shaping a financial crime risk assessment, but none of them determine whether it is truly...

Virtual Asset Service Providers (VASPs) have become a high-value target for organised criminal networks, largely because they enable fast, cross-border movement of value across...

Financial crime risk assessments are often discussed in terms of frameworks, scoring models and tooling, yet their true strength is determined by something far...