Tackling financial crime: now is the time to break down silos

The sharing of financial crime intelligence within financial services is often limited and segregated. Technology can bridge the gap between jurisdictions, business lines and departments, whilst saving time on investigations, driving down costs and identifying financial crime typologies. So why do organisations persist in using an outdated, fragmented approach to financial crime risk management?

Intelligence Sharing Is the Cornerstone of an Effective Anti-Financial Crime Framework

Amid the Coronavirus pandemic, now more than ever, firms need to find a more effective way to share intelligence on financial crime to ensure they maintain effective controls and mitigate risks. The Financial Conduct Authority has stated that criminals are taking advantage of the current situation and targeting firms’ systems through fraud and exploitation schemes.