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What Covid-19 Taught Us About Fraud and Money Laundering

Money, pills and masks hanging from clothesline

For most of the financial crime compliance world, the past 18 months have been a long, strange trip, one marked by disruption and confusion, but also innovation and adaptation.

The same has been true for financial criminals – fraudsters and money launderers adapted quickly to the pandemic reality, and continue to profit from the shift to digital-first financial services.

As many countries around the world start to reopen and the pandemic moves to a new phase, what lessons were learned from financial crime during the Covid-19 era? What new strategies and attitudes must be employed by FIs to deal with financial crime in the digital transformation?

On this Financial CrimeCast, we explore this wide-ranging topic with Andrew Corbett, a member of the NICE Actimize Premier Solution Consultants team. Drawing on this work with banks, credit unions and fintechs to tackle a variety of fincrime challenges, Andrew shares some insights on combating fraud by capturing user behaviors, how contextualizing non-monetary risk is essential for proper customer due diligence, and much more.

The skinny:

See What Certified Financial Crime Specialists Are Saying

"The CFCS tests the skills necessary to fight financial crime. It's comprehensive. Passing it should be considered a mark of high achievement, distinguishing qualified experts in this growing specialty area."

KENNETH E. BARDEN 

(JD, Washington)

"It's a vigorous exam. Anyone passing it should have a great sense of achievement."

DANIEL DWAIN

(CFCS, Official Superior

de Cumplimiento Cidel

Bank & Trust Inc. Nueva York)

"The exam tests one's ability to apply concepts in practical scenarios. Passing it can be a great asset for professionals in the converging disciplines of financial crime."

MORRIS GUY

(CFCS, Royal Band of

Canada, Montreal)

"The Exam is far-reaching. I love that the questions are scenario based. I recommend it to anyone in the financial crime detection and prevention profession."

BECKI LAPORTE

(CFCS, CAMS Lead Compliance

Trainer, FINRA, Member Regulation

Training, Washington, DC)

"This certification comes at a very ripe time. Professionals can no longer get away with having siloed knowledge. Compliance is all-encompassing and enterprise-driven."

KATYA HIROSE
CFCS, CAMS, CFE, CSAR
Director, Global Risk
& Investigation Practice
FTI Consulting, Los Angeles

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