21st Century Compliance: How Technology is Central to Risk Protection in a Complex World
Financial crime is compelling organizations worldwide to spend 3.1 percent of their turnover fighting it, and it drives a continual toughening of regulations globally. Yet every time firms and regulators crack down in one area, criminals find new techniques: less than 1% of criminal funds are frozen and confiscated each year.
Good customer screening is an essential part of the response to financial crime. In this paper, we look at the central role of technology in making compliance possible in the 21st century.