The Board's Role in Overseeing the Management of Financial Crime Risk and Compliance

A board must understand beyond the regulatory obligations and risk of non-compliance.

Setting the baseline for this article.

If we’re being honest, boards typically do not take an interest in anti-fraud and anti-money laundering programs unless there is a significant fraud loss or regulatory pressure through examination or enforcement. In short, most boards see fraud as a buried operational function, and AML as a compliance function. More…