Financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) should look beyond end-point solutions and investment in individual functional areas and instead build an effective and comprehensive Financial Crime Risk Management (FCRM) program that espouses the…
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The last phase of financial crime risk is often the most overlooked, but it underpins the entire financial crime risk lifecycle. While prevention and detection each deal with types of risks, investigation encompasses how those risks are handled and resolved once they…
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The next phase in the financial crime risk lifecycle involves identifying and responding to threats that are active or ongoing. Effectively handling these types of risks requires both accuracy and speed, as a few seconds mean the difference between stopping a criminal…
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The initial phase in the lifecycle of financial crime risk deals with threats that have not yet affected the institution; this can be thought of as the programs and activities to halt any suspicious or non-compliant activities before they become an issue.…
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Financial services organizations (e.g. banks, investment banks, insurance companies, credit card companies and stock brokerages) have the difficult task of effectively identifying the greatest risks to themselves and to their customers, protecting both parties against unnecessary risks and satisfying regulatory requirements for…
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Financial-economic crime, including fraud, corruption and bribary, is a significant social problem that can have a severe and adverse financial impact on citizens, organisations and the government. Financial-economic crime occurs in both small and large organisations. In addition to causing financial damage,…
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Involves an approach where even the smallest offence leads to (harsh) punishment.…
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Organisations with a workforce of 50 employees or more must have a works council (WoCo). A WoCo is an employee participation and co-determination body within an organisation and its members are employees who consult with the employer on behalf of the staff…
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A whistleblower exposes malpractice in an organisation. Employers with a workforce of 50 or more must set up a procedure for reporting (suspected) malpractice in the employer’s organisation. The obligation to have an internal whistleblower policy referred to here is part of…
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Is the behaviour and attitude of top management, including the board and supervisory body of an organisation, which focuses on setting a good example.…
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