Tag: audit

Regulatory fines tend to reduce complicated failures to a single figure. The penalty is announced, headlines follow, firms issue statements and attention soon drifts...

Ask three different people what a "compliance management system" is and expect three different answers, because the term genuinely carries three separate meanings, each...

The pitch always sounds reasonable. Someone in IT suggests the business can build its own financial crime risk assessment tool rather than buy one,...

Financial crime risk assessments look technical on the surface, but underneath they depend on something far less visible: governance. Building one properly draws in...

For many money laundering reporting officers, the hardest part of modernising the financial crime risk assessment process is not identifying the solution, it is...

On paper, most institutions' control environments look impressive. Policies are thorough, procedures well documented, systems described as resilient, staff trained and audits scheduled. According...

Financial crime failures rarely stem from dramatic collapses or obvious negligence. More often, they build slowly, through countless minor decisions, missed signals and assumptions...

Most compliance teams already have a regulatory change management (RCM) process. The problem is that many of those processes are quietly failing, showing up...

For most money laundering reporting officers, the hardest part of adopting a specialised financial crime risk assessment platform is not identifying the need, it...

In a recent post by Diligent, the company outlined the seven-step process to master the implementation of controls and ensure security.