FTI Consulting’s Post

Financial institutions face growing challenges from money laundering, fraud, and other financial crimes. The ALB Pan Asian Regulatory and Anti-Corruption Compliance Summit 2024 in #Singapore is your chance to stay informed about the current landscape and stay ahead of regulatory updates. Join industry leaders, CCOs, and regulators to explore the latest developments—from AI-driven compliance innovations to mitigating risk. Don’t miss your chance to network with the experts, better navigate what lies ahead, and help safeguard your firm's reputation. 🗓️ Mark your calendar for 26-27 September and be part of the conversation shaping the future of compliance. Learn more now. 👇 https://hubs.ly/Q02Lp89Y0 #RegTech #Compliance #AntiCorruption #FinancialCrime #SingaporeSummit Asian Legal Business

We have just renewed all our Anti-Money Laundering (AML) and Financial Crime Certificates here at Pomegranate Commercial Finance. Conducting AML, bribery, tax evasion, and terrorist financing checks is essential for businesses today. Not only does it ensure compliance with global regulations, but it also helps manage risks, protects reputation, and strengthens financial stability. By implementing these checks, companies can contribute to a safer, more secure world while supporting ethical business practices. Compliance isn’t just a legal obligation—it’s a commitment to integrity and global security. [email protected] #AML #Compliance #RiskManagement #BusinessIntegrity

We have just renewed all our Anti-Money Laundering (AML) and Financial Crime Certificates here at Pomegranate Commercial Finance. Conducting AML, bribery, tax evasion, and terrorist financing checks is essential for businesses today. Not only does it ensure compliance with global regulations, but it also helps manage risks, protects reputation, and strengthens financial stability. By implementing these checks, companies can contribute to a safer, more secure world while supporting ethical business practices. Compliance isn’t just a legal obligation—it’s a commitment to integrity and global security. [email protected] #AML #Compliance #RiskManagement #BusinessIntegrity

Carmen Chu, Executive Director (Enforcement and AML) of the HKMA, delivered a keynote address at the ALB Pan Asian Regulatory and Anti-Corruption Compliance Summit 2024 hosted by Thomson Reuters today.     The keynote emphasised the HKMA’s commitment to strengthening Hong Kong’s position as a global leader in risk-based regulation and supervision, as well as sharing the HKMA’s strategies for managing financial crime risk and highlighting the crucial role of correctly implementing the risk-based approach for impactful reforms. Ms Chu also underscored the transformative potential of AI applications in financial crime risk management.   Discover how the HKMA is expanding the toolbox available to the private sector, keeping pace with evolving online threats through innovations, and enhancing these efforts with bank-to-bank information sharing.    Find out more here: https://lnkd.in/dHYJPMgw   Asian Legal Business #AML #AntiCorruption #FinancialCrime #RiskManagement #Innovation #Regtech #HKMA

🚨 Financial Crime Controls: A Wake-Up Call for the Industry The recent £29M fine imposed by the Financial Conduct Authority on Starling Bank serves as a stark reminder of the importance of robust financial crime controls and accurate sanctions screening. As the FCA noted, the bank’s “shockingly lax” systems left the financial system vulnerable to those on sanctions lists, criminals, and high-risk customers. This case underscores a critical lesson: rapid business growth must be matched by equally strong compliance measures, especially robust sanctions controls. Financial institutions of all sizes need to stay ahead of the game by ensuring their screening and monitoring systems are resilient, effective, and compliant with regulatory obligations. At Plenitude, we understand the pressure firms face in maintaining effective screening and monitoring systems and controls as they scale and respond to evolving regulations and guidance. Our tech advisory services, which include our specialist screening focussed health check, optimisation and tuning services, provide assurance that screening solutions fully meet regulatory requirements. We also test that screening solutions are effectively ingesting watchlists and that screening filters are effectively calibrated to drive effectiveness and ensure there are no screening gaps. In addition, we also provide expert optimisation services aimed at reducing false positive alerts and in turn reducing operational costs, whilst ensuring no degradation in screening effectiveness.  In an era of heightened regulatory scrutiny, ensuring that your systems are up to the task isn’t just a regulatory obligation—it’s the key to protecting your business and maintaining trust in the marketplace.  🔗 Learn more about our services: https://lnkd.in/ef7e226m #FCC #Compliance #Sanctions #RiskManagement #AML #FCA #FinancialCrimePrevention #AIinFinance #optimisation #healthcheck

As financial institutions expand through investments, acquisitions, and partnerships, they inherit risk — some of which are easily underestimated. In response, regulators are renewing their focus on bribery and corruption in our space. This article explores the importance of immediately addressing anti-bribery and corruption risks. Give it a read to learn more about the methods for broker-dealers, banks, asset managers, and private equity firms to be more proactive about their monitoring strategies: https://lnkd.in/eky65muF

Our latest industry engagement. Thanks to Mohd Fazlan Ahmad Fuad Debra Au Yixiang Zeng and David Williams for sharing with me their expert perspectives in the panel which followed on how investment, strategy and leadership can make a meaningful difference to how we safeguard our communities from financial crime #fatf #amlcft #hkma