Category: Financial Crime Management

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Defending Against Financial Crime in MENA: Insights & Recommendations

Alarming revelations on money laundering and banking frauds have emerged in recent reports by Deloitte, Thomson Reuters and PwC, who comprehensively surveyed MENA (Middle East & North Africa) nations. While the findings have helped financial institutions in improving resourcing, benchmarking and streamlining regulatory compliance, it has also highlighted certain pertinent concerns. Here are the top five takeaways from these reports. 1.    From blame game to action Prominent...

RBI’s circular

How can RBI’s latest guidelines help Indian banks combat cybercrime?

Rising cybercrime in India is no secret. According to a report by Symantec, India now ranks 3rd in the world, after the US and China, as a source of malicious activity. In fact the National Crime Records Bureau data reveals that in the three years up to 2013, registered cases of cyber crime were up 350 percent, from 966 to 4356. Dubious distinctions both, and give banks and the...

Secret Sauce for Fighting Financial Crime

CustomerXPs hosts “Secret Sauce for Fighting Financial Crime” in association with CISCO

“How can I make my bank safe and keep those fraudsters out?”, “What are the latest approaches to enterprise fraud management in banks?”, “How can I pro-actively & quickly be compliant to ever changing regulatory norms?”, “Can compliance to regulations & enterprise fraud management go hand-in-hand?” These are some common questions baffling bankers not just worldwide but especially in India, where the fraud scenario is pretty grim....