Unravelling the Complexities of Financial Crime

Article

As financial crime becomes more complex, compliance teams are challenged to evolve rapidly. Riley Peterson, Head of Compliance at China Construction Bank, discusses how the intersection of technology, human capital, and inter-bank collaboration is crucial in addressing these ever-changing risks. Through the lens of transaction monitoring and data sharing, Peterson emphasizes the need for continuous adaptation and cross-institutional cooperation to effectively combat financial crime.

Oct 25, 2024

Riley Peterson, Head of Compliance and MLRO, China Construction Bank Corporation London Branch

Unravelling the Complexities of Financial Crime

The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization

Financial crime is evolving rapidly, requiring compliance teams to balance advanced technology with skilled personnel.
Transaction monitoring systems must be continuously validated to ensure they are generating the correct alerts and handling new payment methods.
Data privacy regulations limit information sharing between banks, but collaboration through industry bodies and events helps bridge the gap.
Financial risks shift rather than disappear, demanding constant vigilance and adaptability to new threats such as digital currencies.