BCA Trade Partner, Contego - which provides comprehensive risk scoring and anti-fraud measures - discusses a "sea-change" in the way regulatory compliance is approached. Read the article in full on their blog.
How do businesses go about controlling the costs of regulation? - By Richard Ingles, Contego
Since the financial crisis of 2008, we have witnessed a sea-change in approach to regulatory compliance.
It became clear that much better frameworks were needed to ensure that companies performed their AML/KYC due diligence checks.
Against a background of high-profile fraud cases and the spotlight on money-laundering, the banks and financial services companies have responded by beefing up their compliance teams to combat the ever-shifting regulatory landscape. But at what cost?
To remain competitive, companies must have a stringent process in place. Good governance helps businesses become more efficient, but if a business chooses to neglect this, it can lead to fines, loss of revenue and more importantly a damaged reputation.
So how do businesses go about controlling the costs of regulation? Read more in this blog post or watch the video below featuring Adrian Black, founder of Contego.