Financial crime continues to be a complex challenge for financial institutions
Criminal incursions quickly take new forms, and in response, firms have built a system upon system and process upon process to protect themselves against internal and external threats.
Anti-financial crime professionals can challenge their existing frameworks’ efficiency and use new ways to achieve actionable results from the processes they have created to detect and prevent crime. They can ask questions that specifically target their risk culture, their operational agility and the efficiency of their data analytics.
Our paper, ‘Walls don’t make a fortress’, provides actionable insight into how financial crime frameworks can be revitalised. It proposes new alliances between government, fintech and industry peers to aid firms in their financial crime prevention. It also includes advice on how to strengthen internal innovation for novel ways of tackling crime.