Financial crime risk keeps evolving and firms must stay on their
toes
With the plethora of sanctions triggered by recent conflicts,
criminal cases associated with crypto collapses, the proliferation
of fraud from scams involving unauthorised transactions and
authorised push payments (APP) and the sophistication of global
cyber-attacks, financial crime remains one of the most significant
risks facing firms.
Globally, regulators are assessing whether frameworks remain fit
for purpose, conducting an increasing number of thematic reviews,
issuing guidance to (re)set their expectations and stepping in when
there are concerns and failings. And there continues to be a
significant amount of – often costly – financial crime
enforcement activity.
