Tag: Financial crime risk assessment

For many firms, the biggest threat in financial crime compliance is not a new typology or a sophisticated criminal network. It is a risk...

Financial institutions have poured investment into sophisticated methodologies and advanced systems for assessing financial crime risk. Yet none of it delivers an accurate picture...

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...

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

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

Every money laundering reporting officer (MLRO) knows the pattern. A request goes out for financial crime risk assessment (FCRA) input. The business goes quiet....

Regulators are no longer willing to take organisations at their word. In financial crime risk management, supervisors now expect to see the architecture behind...

Many organisations begin their compliance journeys convinced that developing a financial crime risk assessment platform internally will deliver greater control, lower costs and the...

There is a fundamental shift is under way in how regulators view financial crime risk assessments. Where once they focused primarily on customer onboarding, screening,...