Correspondent banking is a vital part of the global economy, but when incorrectly managed can present considerable financial crime risks.
Posted inEthics & Culture
Breaking the glass ceiling in ethics and compliance
Jane Levine, chief compliance officer at DailyPay, shares three suggestions for ensuring women are empowered within the ethics and compliance profession.
Posted inEurope
ICA Insight: Russia sanctions frequently asked questions
Jake Plenderleith of the International Compliance Association answers selected questions from attendees of a recent ICA webinar on Russian sanctions intended to help provide clarity on what firms can do to protect themselves from exposure.
Posted inRisk Management
Five considerations for a transaction monitoring system
Transaction monitoring is an area constantly in the spotlight. David Povey of the International Compliance Association explains five key monitoring considerations for anyone managing or working within financial institutions.
Posted inRisk Management
Greenwashing under the spotlight
Financial institutions have outlined commitments to reduce their CO2 emissions, though many observers have noted a disconnect between what institutions are saying about climate change and what they are doing about it.
Posted inRisk Management
Where are we heading with ESG?
Climate change is no longer a niche interest. If the trend continues, long-term views and ambitions will overtake short-term, “at any cost” profitability because appetites will change. Where must companies focus?
Posted inResource
Download the ‘Coming Clean’ Volkswagen case study
This comprehensive case study examines how Volkswagen survived a 3-year monitorship in the wake of Dieselgate and worked systematically to change a culture of fear and hurt among a staff of 640,000 to one of integrity and restored pride.
Posted inEurope
Learning points from HSBC’s fine for AML failings
Significant investment in systems has not been fully effective in mitigating financial crime risk. A fine of nearly £64 million (then-U.S. $84 million) imposed on HSBC by the U.K. Financial Conduct Authority in December is a particularly potent example.
Posted inRisk Management
Source of funds/source of wealth: Knowing the difference and best practices
With the similarity of their nature and how they overlap, not to mention how often they are mentioned in the same breath, it can easily lead to confusion when trying to remember which is which between source of funds and source of wealth.
Posted inRisk Management
How compliance can help prevent illegal wildlife trade
Developing a reasonable understanding of the supply chain is the first step in ascertaining whether corporate entities might inadvertently participate or facilitate illegal trading in wildlife.
