White Papers
Why research? Why now? Because all major AML and fraud preventions questions are only answered properly and completely with a foundation of impartial research. The high quality of that intelligence and advice is often the difference between money saved and money lost or a well-executed implementation. For you, the ROI begins with the first question fully answered. And you can start any time.
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2009 Financial Crime Outlook What to Expect in a New Political Season with a Financial Sector in Crisis
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Obama: Regulatory Change on the Horizon - The state of today’s economy has made it apparent that changes need to be made. The U.S. is seeing the worst financial downturn in 75 years and events such as the subprime mortgage crisis, credit crisis and Madoff scandal, have lowered the public’s confidence in the financial industry. In his presidential inaugural speech, Barack Obama has called for a “watchful eye” on the financial sector, or else "the market can spin out of control.”
With a new administration, a recession and financial sector in crisis, there are many questions regarding compliance priorities. Will there be a regulatory agency reform and if so, what does that mean? Should anti-money laundering and fraud prevention efforts take a back seat to handling the credit crisis? How can financial institutions be more effective in mitigating the risk with slashed compliance budgets? In this paper, we’ll address these issues.
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The New Wave of Check Fraud: Are You Ready?
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The United States is in an unprecedented economic crisis with every day seemingly bringing a new barrage of bad news. With increasing financial institution failures, the crisis has put the remaining institutions on the defensive focused on managing through liquidity issues, mounting credit losses, massive numbers of foreclosures, rising consumer unemployment, declining consumer confidence and slowing economic growth.
The focus of financial institutions, in general, is on survival rather than on business as usual. So where does that leave normal dayto-day operations such as fraud detection, prevention, investigation and mitigation; taking a back seat in this crisis.
Fraud prevention and detection spending has always tended to be reactive to significant negative changes in fraud trends. This crisis won’t change the general belief that short of a drastic change in losses (which trails the actual increase in events by as much as 6 months or more), little new spend in these times is likely forthcoming for fraud prevention. Criminals have learned that fraud prevention spend trails losses and have used this time and time again to their advantage. They view this as a weak link in financial institutions’armor and quickly seize upon and exploit it.
In this white paper we will focus on how to address these issues, to read more please click here.