In the ever-changing pandemic era, financial institutions are struggling to meet their financial crime compliance obligations in 2022.
The world of financial crime compliance is ever evolving. From the ongoing effects of the pandemic to the rising cost of compliance and the introduction of new technology, standards and regulations, navigating this landscape has never been more complex.
LexisNexis Risks Solutions has identified 8 emerging trends that are shaping how the FSI industry is addressing the wide range of threats facing the global financial ecosystem:
1. Increased Cost of Compliance
2. Regulatory Scrutiny Outside of Financial Services
3. Rise of Crypto
4. Sanctions Focusing on Human Rights Abuses
5. Increased Focus on Supply Chain Due Diligence
6. Adoption of ISO20022 Payments
7. Growing Use of AI
8. Transitioning to the Cloud
For more insights into these 2022 trends shaping the financial crime compliance landscape, check out this infographic now!