What Keeps Financial Crime Professionals Awake At Night?

What Keeps Financial Crime Professionals Awake At Night?
Webinar

Webinar Recording

As professions go, it’s probably one of the most high octane. Trying to keep track of financial criminals, their next moves and how you can protect customers and your financial institution means for many, it’s not a 9-5 job. So, what are the issues keeping financial crime professionals awake at night? And what needs to be done?

This webinar highlights key points:

- Sophistication: attacks from well-organised and well-funded global criminals are getting increasingly sophisticated and difficult to spot

- The role of the dark net: pre-packaged attack methods that are tried, proven and then sold on the dark net

- Scatter gun approach: volume plays rely on massive data breaches leading to hundreds of thousands of email addresses and passwords being sold - these are then used by bots for phishing and other scams that rely on low overheads and a tiny percentage success rate

- Weak links in the chain: no matter how good an organisations defences are there is a real risk from institutions with lower defences allowing criminals into the financial network

- Uplift in tech: to keep up with the volume and scale of attacks more tech investment is needed to avoid exponential growth in back office support i.e. automation not people

- Big data and better data quality: these are key in the fight against financial crime – analytics for trend detection and ensuring all data is tip top is paramount

- Collaboration: between financial institutions, regulators and Government will be key

Speaker:

Phil has worked in financial services for over 30 years, having first qualified as an accountant at Eagle Star, before moving to KPMG. After five years of working for the consultancy in Europe and the Middle East, Phil moved to RBS/ NatWest Group to run the mortgages, collections and recoveries team. After 12 years Phil became Global Head of Anti Money Laundering for the RBS/NatWest Group with teams in the UK, Poland, Singapore, USA and India, a position which he held for eight years. Phil then set up his own financial crime consultancy FS101, which supported large organisations navigating the choppy waters of regulatory change. FS101 was acquired by P2 Consulting in 2015. Phil originally led the financial services practice at P2 before becoming CEO in 2019.

Date
Monday, 22 March 2021

Time
16:00 - 16:45 GMT

Cost
Free