The latest financial crime trends

Article

The latest financial crime trends 

Forensic Foresight:  July 2016

This thought-provoking and engaging 18 minute video is valuable viewing for all risk and compliance professionals wanting to "future proof" their Financial Crime prevention, detection and response programs.

The latest financial crime trends

In this video presentation, Terri Clementson, Director in our Financial Crime team, talks about the trends Deloitte is seeing in the financial crime space, and how organisations can “future proof” their financial crime programs.   Terri discusses the challenges coming over the horizon, and the need for organisations to actively triage these challenges.  Terri outlines the tendency within Australian organisations to underestimate the financial crime threats to their business.  She highlights the critical role risk and compliance professionals have in identifying financial crime threats and developing regulatory expectations, and communicating these effectively to their executives and boards.  The recommendations Terri makes on how to “future proof” financial crime programs include:

  • Identifying vulnerabilities in your organisation’s value chain and within its business
  • The need for “shot selections” in how you direct your resources – you can’t do everything
  • Being agile in deploying resources within your financial crime team to greatest effect – effectively running “air traffic control” on your resourcing
  • Looking at your program through a lens of higher scrutiny to ensure it is defensible in the eyes of regulators
  • Constantly staying on top of regulatory and industry trends.
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