An ounce of prevention is worth a pound of cure, particularly in the sphere of AML-compliance in the banking industry. Yes, it is costly to establish an effective AML-control structure, but non-compliance costs can be much more taxing—so how do financial firms institute cultures of compliance throughout their operations that ultimately minimize risks to all parties involved and increase enterprise value?
Faced with a tightening regulatory environment in recent years, banks and other financial services companies have reacted by adding resources to Compliance teams as a signal to regulators that serious work is being done to ensure the bank is compliant with all relevant laws.
A bank’s underlying culture determines how its staff handles pressures and challenges, ordinary and extra-ordinary. As the aftereffects of the Brexit vote impact London’s banks, each bank’s culture should be refined so that employees do the “right thing” while achieving desired results, building a robust business in even the most volatile environment.
The European Commission’s General Data Protection Regulation (GDPR) comes into effect on May 25, 2018, and will regulate how businesses collect and process the personal data of all European Union (EU) residents.
For banking and financial institution executives – and for their investors – 2016 has begun on a sour note. From the largest money center banks to small local institutions, double-digit earnings declines were commonplace in the first quarter, as
In this world nothing can be said to be certain, except death and taxes.” If Benjamin Franklin were alive in today’s post-financial crisis world, he might have added “compliance” to his statement.
21 March, Bangalore. Banking Decision Sciences pioneer iCreate today announced its plans to deliver enhanced enterprise information management capability to…