The Asian Banker Financial Crime 360

Catch up with the latest in fraud and financial crime to keep your organisation safe

Today, regulators, boards of directors, shareholders and consumers are holding corporate and financial institutions and their management teams to a much higher standard when it comes to financial crime prevention benchmarks. Governments and banking regulators continue to introduce stricter guidelines and thus force companies into rethinking how they can address financial crime and the true value of their strategies as well as deficiencies. Despite the obvious challenges of cost, technology and an ever-changing threat landscape, every enterprise has to adjust the ways in which it tackles issues such as bribery and corruption, money laundering, financing terrorism, fraud prevention, data security, and customer protection laws.

On the other side, criminal networks are becoming increasingly sophisticated and organised and ad-hoc crime-as-a-service alliances seem to be able to break into any type of firewall.The recent case of a major bank in Singapore falling prey is a good example that even the safest banks has to be wary of cybercrime and fraud at all times.

Malware attacks are indiscriminate not only towards seemingly vulnerable smaller banks, but more trustworthy larger banks as well. These larger banks are usually perceived with higher standards of security protection, hence gaining much trust from consumers resulting in a higher market share. This is one of the paradoxes in the cyber-security environment.

The process to identify, understand and counter the latest cyber threats is an ongoing and escalating battle, in which both sides continuously try to outdo the other by innovation. Oftentimes, banks are the ones counter acting, and hence their counter measures are only as good as the last attack they are able to identify and overcome. The battle against cyber-crime is one where banks stand to benefit the most by collaborating and sharing resources and experiences for it is a battle that they cannot win by acting alone.

Following last year’s success, The Asian Banker is pleased to conduct the Financial Crime 360 conference for the second time in a new and improved format:

Workshop: ‘Crime proof’ your organisation
A one-day training workshop on 23rd November will focus on providing you with the understanding and means to avoid and minimise the impact of fraud and other breaches by putting the right protection measures and processes in place.

Conference: Understanding the many faces of financial crime in the Asia Pacific region
The second conference day on 24th November will bring together regulators, law enforcement officials and compliance practitioners from MNCs, SMEs as well as financial institutions discussing best practises, technology trends and criminal modus operandi. The topics will go far beyond compliance management and will provide you with a tangible picture of the situation in Asia, region-specific issues as well as case studies and solutions.

A range of key issues to be covered in Financial Crime 360 include:

  • Changing guidelines and regulatory landscape
  • Tackling AML challenges with proper CDD and KYC procedures
  • Using data analytics, social media and open source intelligence to combat crimes
  • Cyber crime and breaches
  • Trade Based Money Laundering
  • Risks associated with money service businesses and Hawala
  • Emerging vulnerabilities and new players
  • Case studies – Learning from the latest scandals about building a sustainable and ethical corporate culture
  • Business resiliency and contingency planning
  • A holistic approach to cyber-crime and fraud

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