Unfortunately, criminals see the international emergency caused by the novel Coronavirus as an opportunity to prey on their victims. All organizations should take great care to make themselves familiar with the trends of COVID-19-related fraud identified by U.S. and foreign government agencies so organizations can detect criminal activity and alert law enforcement. In addition, financial institutions should update their compliance programs and due diligence practices in accordance with these trends of COVID-19-related fraud to prevent Government actions for not filing the appropriate suspicious activity reports for transactions linked to COVID-19.
This webinar will give an overview of the trends of COVID-19-related fraud identified by U.S. and foreign Government agencies, and some of the best practices that organizations can implement to detect that criminal activity.
Breakdown of financial crime compliance costs by region
Average increase in costs over the last 24 months
Impacts of financial crime compliance expectations on productivity and customer acquisition
Marta Colomar Garcia
Administrative Managing Partner