An Holistic Approach to Financial Crime Management
Does your organisation simply react to incidents of fraud, bribery and money laundering or do you proactively manage the risk?
Fraud losses should be treated as a business cost and organisations should take a strategic approach to reducing those losses.
Organisations that put in pace an holistic financial crime Programme do not simply respond to fraud but also put in place a structure for preventing and deterring fraud.
This requires buy-in and commitment from senior leaders, as well as senior managers across the organisation. Finance, Legal, Compliance, Audit, Risk, HR, Procurement, Facilities Management, Communications and Operational managers all have a role to play in managing fraud risks. Their work in this respect needs to be co-ordinated through expert advice and guidance in order to ensure a consistent and effective approach.
Further details of the importance of taking a strategic approach are contained in our video below.