As we all prepare for the death throes of 2020 in what has proved to be one of the most challenging of recent times, the Financial Action Task Force and Egmont Group recently published a report dealing with trade-based money laundering trends and developments aimed at challenges encountered by the public and private sectors.
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Arctic Intelligence has developed several multi-award-winning platforms that are used by hundreds of regulated businesses in over 15 countries and over 20 industry sectors to help them to identify, assess, mitigate and manage their financial crime risk exposures. Our second…
Cyber-enabled fraud (CEF) is a growing transnational organised crime. CEF criminal syndicates are often well structured into distinct sub-groups with specialised areas of criminal expertise, including money laundering. These sub-groups may also be loosely organised and de-centralised across different jurisdictions,…
WIIFM?
What's in it for me? This acronym has become important in the business world. It's the question all employees ask when they hear there is another piece of compliance training they need to complete by a specific date or a compulsory meeting or presentation that needs to be attended.
People, process and technology are some of the key components in the financial crime process control environment. Processes and technology do as they are programmed to do; people however are less predictable in following instructions. In the financial services industry, process control implementations typically address processes and technology, while the Change Management component and its focus on the human aspect of process change is receiving increased attention. But is change management enough?
The FATF (Financial Action Task Force) grey-listing of a country is a designation given to countries that do not fully comply with international standards for combating money laundering and terrorism financing.
We at FCRMC wish all our friends and business partners the very best as we navigate the new year together. 2023 promises to be an eventful year for both South Africa and those beyond our borders, through the rest of the continent.
Our operating environment has changed, no doubt about it! – both in terms of our personal space and business operations. Many of us are currently working from the confines and solitude of our homes, either temporarily or permanently – COVID…