Fighting Financial Fraud in a Pandemic: A Global Perspective
The second webcast collaboration between AICB CBI, UK and FINSIA was held on 27 August 2020 at 3 pm. Moderated by AICB CEO Prasad Padmanaban, “Fighting Financial Fraud in a Pandemic: A Global Perspective” saw Deloitte’s Financial Crime Compliance Leader – SEA Radish Singh sharing emerging trends in financial crime during the pandemic and mitigation methods such as enhanced risk-based and due diligence measures, greater controls for electronic and digital payments, enhancing governance and optimisation, and a greater focus on material risk. Gavin Littlejohn, Chairman of the Financial Data and Technology Association spoke on the trust framework between regulated actors and the signing of software statements, and how it needs to be extended to the end customer. Richard Storey, Sales Director, Risk Solutions, Pacific of Refinitiv shared his views on the quick adoption of technologies for transaction monitoring, identity verification and eKYC, which have been accelerated in part by the pandemic. The webinar was attended by close to 300 participants, who actively engaged with the speakers through the Q&A session and chats. A recording of the webinar was provided to all participants after the session.