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Financial Crime: Challenges faced by financial institutions
Our Strategic Approach
Financial crime is one of the most pervasive threats today, burdening businesses and impeding growth and innovation. A trillion dollar problem, it is multi-faceted, complex and continuously morphing.
A Stay Awake Issue for C-suite executives
Financial Crime has become a stay awake issue for corporate directors and C-suite executives at banks and other financial institutions across the world. While it's difficult to quantify the costs of financial crime -which can include direct losses, fines for non-compliance, and reputational damage - there is no doubt it has become a significant issue for institutions and one that is more challenging by the day.
For this article, insights from Deloitte's most senior financial crime practitioners in the Americas, the Asia Pacific and Europe are covered especially in terms of the areas of concern in relation to financial crime, and how to manage the issue in today's complex and fast-changing business landscape.