Staying ahead of fraudsters is becoming ever more difficult for banks as they simultaneously manage increasing operating costs and growing regulatory liabilities. The answer is an integrated approach to risk mitigation and compliance. This infographic presents an overview of financial crime and its ever-multiplying facets. It also outlines the expanding ambit of regulatory compliance and the attendant costs. It suggests a tailored approach to risk management, which is distilled into six steps that banks can take.
For a more detailed study of financial crime and how banks can fight it, please read our white paper, Financial Crime: How Financial Institutions Can Mitigate Risk and Improve Compliance or visit our Banking and Financial Services Practice.