Uncertainty and Opportunity:

Perspectives from Asia on the Shifting Landscape for Financial Crime


Overview

COVID-19 presents the most significant global challenge in modern history, with governments around the world taking extraordinary measures to curb its spread and keep economies and households afloat. But for criminals – who continue to prove their resilience and adaptability, and view the current uncertainty as an opportunity to capitalise on the most vulnerable – it is business as usual.

As ongoing movement control and lockdown orders continue to bring unprecedented operational strain to financial institutions, and present new opportunities for bad actors to evade AML controls, the need to expedite manual and time-consuming KYC processes and procedures has become more pronounced than ever.

The effectiveness of financial crime compliance programmes relies on the ability of firms to ensure a fast and frictionless customer experience, while simultaneously removing any uncertainty within customer data and mitigating emerging risks with reliable and accurate intelligence – throughout the entire customer lifecycle.

As the crisis evolves, and banks continue to focus on managing crisis-related operational challenges and supporting clients through the downturn, the focus may not be on implementing significant change and transformation. Rather, it will be on filling operational and data gaps to ensure risk can be assessed at every point throughout a customer relationship, to prevent compounding effects on downstream AML functions.

In this webinar, our panellists will considers both global and region-specific factors that contribute to heightened financial crime and AML risk amid the ongoing pandemic. We will also explore the immediate steps financial institutions can take to enable smarter and faster decision-making and reduce regulatory, financial, legal, and reputational risk.

Key Themes

  • Heightened financial crime risk associated with Covid-19
  • Challenges of incomplete or inaccurate KYC data
  • Accelerating decisioning with enriched data
  • Transforming data into actionable insights
  • Risk-based monitoring through customer lifecycle

Webinar Registration

This webinar was broadcast on 24 June 2020. Register below to be notified when the recording is available.

This webinar is open to financial crime compliance, AML and fraud risk professionals at banks and other financial services firms only.

Registered attendees will be entitled to receive a complimentary white paper and other materials related to this webinar.

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Speakers

Brad Maclean
Co-founder & Moderator
Regulation Asia

Matthew Field
APAC Market Lead - Anti Money Laundering
Nice Actimize

Jamil Ahmed
Head of Financial Crime Compliance
HSBC Singapore

Jeremy Moller
Senior Advisor - Risk Advisory
Norton Rose Fulbright Australia