All ICA Insight articles – Page 2
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ArticleManaging sanctions risk: Keys to successful implementation
The International Compliance Association hosted a webinar looking at challenges faced by organizations regarding changes in the sanctions landscape in 2022. Holly Thomas-Wrightson offers a recap of the discussion.
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ArticleJoining the dots between ESG and corruption
A report from Transparency International UK sets out the case for why business integrity and corruption should be considered as core issues in the context of impact environmental, social, and governance investing.
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ArticleRegulatory independence vital in U.K.’s fight against fraud
To do their jobs properly, regulators must be able to act independently and without government intervention. Rather than seeking to tighten its grip on regulators, the U.K. government should be safeguarding their independence as a matter of urgent priority.
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ArticleUnderstanding ‘green hushing’ and its risks
“Green hushing” is when a company adopts a radio-silence approach to environmental goals. Many companies do it. Some don’t realize they’re doing it.
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ArticleHow to build an effective code of conduct
Literature and survey results regarding codes of conduct and ethics reveal the elements of strong (and weak) examples.
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ArticleSouth Africa edges toward FATF watchlist
South Africa could be designated by the Financial Action Task Force as a jurisdiction with anti-money laundering/countering the financing of terrorism risks subject to increased monitoring should a November review not meet the organization’s standards.
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ArticleDiversity and inclusion’s power in compliance
A panel of experts hosted by the ICA and Broadgate discussed the impact of diversity and inclusion initiatives on their own lives and why developing effective D&I policies and procedures within a firm is vital to attracting and maintaining talent.
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ArticleEffective collaboration key to fight against financial crime
The Fintel Alliance—a partnership involving AML regulator AUSTRAC, Western Australia Police, and analysts from a handful of large banks—provides an example of the positive outcomes of collaboration in fighting financial crime.
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ArticleFocus on professional enablers puts lawyers in spotlight
While the extent of lawyers’ and law firms’ involvement in money laundering remains difficult to quantify, their potential role as professional enablers has become increasingly salient.
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ArticleFraud risks grow as cost of living soars
Just as fraud grew during the Covid-19 pandemic, so will it now flourish with prices at historic highs. The question is just how widespread this fraud surge will prove to be and what can be done to help prevent it.
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ArticleAdaptability: An overlooked, and underrated, compliance skill
Compliance professionals can utilize adaptability for its many benefits both individually and for the firms in which they work. The question, then, is how they do so.
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ArticleBehavioral science: A tool for successful cultural change
Real cultural change requires an understanding of the drivers of human behavior. And the most effective means of grasping these drivers is through behavioral science.
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ArticleHow compliance can help prevent human trafficking
There are many organizations that seek to prevent human trafficking, but their work can sometimes seem distant and detached from our roles as compliance professionals. We must consider how to bridge that gap, with a particular focus on supply chains.
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ArticleHow to deal with cultural arrogance
Arrogance is an unpleasant trait to deal with in our professional careers. It is, however, perennial. Learning how and when to face it will be a long-term useful skill.
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ArticleMind your language: How small changes in phrasing make big differences
Risk and compliance professionals are tasked with trying to change attitudes and behaviors to achieve their goals. Subtle adjustments of emphasis and wording can have a significant impact on their success.
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ArticleFinancial crime within the metaverse
The momentum gathering behind the “metaverse”—a universe of virtual worlds built on blockchain technology—should be of keen interest to everyone in the regulation and compliance space, given its potential impact in terms of business, ethics, financial crime, and safety.
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ArticleTransaction monitoring: How we can do better
While the requirement to undertake transaction monitoring evolved because of AML legislation, its importance has been magnified and reinforced by increased regulatory attention and significant fines.
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ArticleAddressing fraud via social media
Fraud and social media have a special relationship, with the two frequently combining to cause harm, distress, and loss to an enormous number of people.
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ArticleThe importance of maintenance and record-keeping
Stringent maintenance and record-keeping measures are part of the foundations of an effective compliance and risk management framework, so their neglect is as puzzling as it is unwise.
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ArticleFactors to consider when implementing risk assessment technology
With the growing demands of huge data sets, an everchanging regulatory landscape, and constantly evolving typologies, the challenge of assessing, documenting, and managing financial crime risk has never been greater.