FinCrime Innovation Lab

Connecting for impact

Our FinCrime Innovation Lab series provides insights on the latest developments, featuring sessions on innovation, emerging risks, global insights, compliance and regulatory updates.
This series is a valuable resource for anyone interested in staying up-to-date on the latest trends and innovations in the fight against financial crime.

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5 June 2024 | Combatting tax crime

A FinCrime Innovation Lab series

To date, our sessions have focused on innovations in the Financial Crime space, and on the tangible benefits which technological innovation can bring to the fight against financial crime.

This session will focus on the evolving methods of criminals from a tax perspective. We will consider the methods which criminals use to facilitate ML/TF activity through tax crime, and set the stage for a discussion about how subject persons need to adapt and ensure that their risk management framework is calibrated to effectively identify high-risk indicators of tax crime.

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Past events

24 October 2023 | The transaction monitoring framework

A FinCrime Innovation Lab series

Transaction monitoring is a critical component of the AML framework as it is through this process that Subject Persons are best placed to detect suspicious transactions executed through their products and services. It is also one of the more complex, time consuming, and costly processes within the AML framework, especially when poorly executed. This is partly due to dependency on other processes within the framework, particularly the KYC and due diligence activities, that occur at the start and throughout the client relationship, and partly due to dependencies on data, systems, tools and human resources.

During this edition of the FinCrime Innovation Lab, we will explore how such challenges can be more capably managed with the objective of obtaining better outcomes not only in terms the effectiveness and efficiency from an AML/CTF perspective, but also to bring value to the organisation by contributing to the achievement of its strategic goals. We will share our points of view on what we believe to be the key components of a robust transaction monitoring framework, the common pitfalls we see in our market as well as potential solutions.  

Past events

20 June 2023 | Risk Analytics: The foundation of effective financial crime risk management

A FinCrime Innovation Lab series

The ability to use risk data to understand, measure and analyse risks is at the heart of any robust risk management framework – AML risk management is no exception. However, we often find that the accessibility and quality of this data is a major limitation. This results in considerable effort spent with sub-optimal outcomes.

We believe that risk analytics can be seamlessly integrated into a Subject Person’s operational environment. This transformative approach to financial crime risk management fosters a more dynamic model, striking a balance between quantitative and qualitative insights.

At this event, we focussed on exploring the potential of risk analytics in enhancing financial crime risk management.

25 April 2023 | Accelerating operational processes with intelligent automation

The constant evolution of financial crime techniques requires a corresponding advancement of financial crime controls within the operational environment of subject persons. This has a direct impact on the cost of compliance. New technologies, such as intelligent automation, have the potential to make anti-money laundering (AML) and counter terrorist financing measures (CFT) processes faster, cheaper and more effective.

At this event, we shared insights on how intelligent automation can significantly improve the efficiency and effectiveness of an AML/CFT Programme. 

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