Financial Crime Convergence: Think Collaboration, Not Consolidation
Silos within financial crime functions are the criminal's best friend. Malicious actors have exploited, and continue to exploit, the walls that separate fraud and cybersecurity units. Appreciating this Achilles' heel, FIs have tried aligning these functions closer together. Unfortunately, many past attempts have failed. However, disrupting crime and satisfying regulatory scrutiny are getting harder and more expensive. With finite resources, FIs see increased financial crime convergence as a key weapon against a common enemy.
This Impact Report explores the evolving financial crime risk landscape, the growing importance of greater financial crime collaboration and alignment of fraud and cybersecurity units, and various approaches currently being taken by financial institutions (FIs). Through these insights, financial crime practitioners will learn that convergence is less about a specific destination and a perfect single financial crime organisational configuration or technology ecosystem and more about discovering how best to come together and optimise people, processes, and technology.
Read More
By submitting this form you agree to F5 contacting you with marketing-related emails or by telephone. You may unsubscribe at any time. F5 web sites and communications are subject to their Privacy Notice.
By requesting this resource you agree to our terms of use. All data is protected by our Privacy Notice. If you have any further questions please email dataprotection@techpublishhub.com
Related Categories: AIM, Analytics, Big Data, Collaboration, Compliance, Email, ERP, Machine Learning, Network
More resources from F5
OWASP Top 10
The nonprofit Open Web Application Security Project (OWASP) works to improve the security of software, web applications, and APIs. Since 2003, the ...
Continuous API Sprawl Challenges and Opportun...
The Application Programming Interface (API) economy is the totality of all public and private APIs that exist globally at any given moment. It is c...
Deploying Consistent Application Services in ...
Most organizations prioritize cloud flexibility—and let application teams choose the best environment for each application—over the organizatio...