The Emerging Battlefield in the War on Financial Crime

Article

Financial crime is evolving at a rapid pace, with new methods like money mules and sanctions evasion rising sharply. In an insightful interview with Pallavi Kapale, Senior Financial Crime Officer at the Bank of China, the article delves into how banks are rethinking their risk management strategies to combat emerging threats.

Oct 25, 2024

Pallavi Kapale, Senior Financial Crime Officer, Bank of China

The Emerging Battlefield in the War on 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 officers are facing increasing challenges with the rise of money mules and synthetic identity fraud.
Banks are enhancing their KYC and customer due diligence processes to adapt to new types of fraud.
Artificial intelligence and machine learning are critical tools for detecting and preventing fraud in real-time.
Collaboration between banks, law enforcement, and regulatory bodies is essential in fighting financial crime amid data-sharing restrictions.