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The effectiveness of financial crime risk management reform and next steps on a global basis

Published on: Nov 15, 2021

Financial crime is a major threat to the security and prosperity of nations, negatively affecting all aspects of the social order, business, and government. It is a fundamental risk to the stability of the global financial system. This paper from Deloitte Transactions and Business Analytics LLP and the Institute of International Finance looks at this issue and possible ways forward. 

The first part of this paper, Global Outlook on Financial Crime Risk Management Reform, provides an overview of noteworthy financial crime risk management reform efforts underway within international standard setting bodies and a number of key jurisdictions.

The second part, A Way Forward on Continuing to Enhance Effectiveness in Financial Crime Risk Management, provides a framework for public and private sector stakeholders to continue to enhance the effectiveness of their anti-financial crime strategies through the implementation of recommendations in the following key areas:

  • The use financial intelligence
  • Risk prioritization
  • Technology and innovation
  • International cooperation and capacity building.

This report builds on a prior paper from 2019.

This publication was released by our Global firm.

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