Rethinking Compliance For Creating Value

Business development and compliance teams must understand that in the new world they are part of the same game, says our AML and KYC expert in his latest blog.

Too often in the recent years we have heard expressions like "it's impossible to get new business; our compliance is creating too many problems". Business and compliance teams have to understand that in the new world they are part of the same game. Good compliance can help business development in getting good and profitable business - but the business and compliance teams need to understand each other from the beginning.

Compliance must comprehend that they do not exist if they don't have the support of the people who get the clients. On the other hand, business people must understand that they will not stay in the market without a good internal control system.