Banks and Financial Institutions (FIs) are required to implement systems that ensure any proceeds they accept are legitimate and are not as a result of criminal activity. However, there are many obstacles that banks and FIs need to consider. For example, the emergence of new technologies allows criminals to better obscure the ultimate source of their wealth, governments are becoming stricter with their punishments for allowing financial crime to take place, including potential individual criminal punishment under the “failure to prevent” offense, and there is an ever-increasing number of rules that banks and FIs must adhere to for every country they operate in across every operation. This creates a huge risk, and with criminals continuing to invest money and time into beating the system, banks and FIs are struggling to keep up. 

Ahead of this year’s Anti-Financial Crime Summit, we spoke exclusively to Debbie Grant, Head of Financial Crime, Compliance & Fraud Operations at Wirex, about Wirex's top anti-financial crime strategies and best practices, to help you better identify, combat, and protect your organisation against the risks of financial crime. 

Read more and discover: 

• The impact new technologies will have in the fight against financial crime 
• How to overcome the greatest challenges with financial crime 
• The best practices for remaining compliant with current regulations 
• The top strategies for reducing financial crime risk 
• Predictions for the future of the financial crime sector in the coming years 

Download the full interview here >>>