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During times of economic upheaval and uncertainty it is natural for businesses to focus their strategic efforts on continuity planning and shoring up resources to weather the storm. Though increased focus on AML and ABC measures may not seem critical at this time, loosening this oversight could cause major issues down the line.
Join us for a live webinar in collaboration with the Florida International Bankers Association (FIBA) to hear our experts, Michelle Goodsir and Joanne Taylor, discuss how organizations can leverage compliance resources in order to maintain a robust program even in times of turmoil, including:
- Being aware is critical since tough times often breed increased risk. They will review the behaviors to look for when fraud and bribery risk increased.
- Reducing AML and bribery risk through combined workflow and case management strategies, KYC due diligence, risk rating engines, and alert review teams are critical and how to do so.
- To leverage information available from AML, sanctions, and ABC sources to build more robust data analytics and risk trending.
- Cross-training staff to cover instances of increased activity or shortages between various functions can stretch budgetary burdens.
- Leveraging staff location and skill-sets should be assessed and review in light of other restrictions such as data privacy but important in terms of consistency in approaches.