Traditionally, the industry has viewed compliance and financial crime as two separate areas.
While substantial investments have been made in anti-money laundering (AML) compliance
and fraud prevention, these two areas are typically managed in a silo’d fashion – an approach
that is no longer sufficient to address evolving risk management and regulatory requirements.
Compliance and risk officers now see that better integration of fraud management and AML
compliance is the direction they must take to fully understand the complete impact of financial
crime on their institutions, improve their return on risk and compliance investments, enhance
the institution’s reputation with investors and shareholders and cultivate trust with customers
and business partners.
This whitepaper outlines ideas to help optimize an institution’s approach to financial crime and
compliance management by leveraging the synergies and return on investment (ROI) that can
be gained from addressing AML compliance and fraud prevention in tandem, thereby helping
achieve a more unified view of financial crime and risks across the enterprise.
This whitepaper is provided by Oracle Financial Serrvices: click here