Tag: Financial Crime Risk Assessment

Firms can invest heavily in sophisticated systems and refined methodologies, but neither will produce a reliable financial crime risk assessment without capable people behind...

It is a familiar boardroom moment. A compliance team flags the need to modernise its financial crime risk assessment process, and someone from IT...

Financial crime risk assessments only work when governance holds everything together. These assessments pull input from business units, risk and compliance teams, technology functions,...

On paper, most financial institutions appear well defended. Policies are documented, procedures mapped, systems described as resilient, staff trained and audits scheduled. The result...

There is a familiar refrain that echoes through financial institutions when compliance teams request new tooling: "We can build this internally — it's just...

There is a pattern that most money laundering reporting officers (MLROs) will recognise immediately. A request goes out for inputs to the financial crime...

In every regulated organisation, the board of directors carries ultimate responsibility for ensuring that the financial crime risk framework is fit for purpose, effective...

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...