Food for Thought: Financial Crime Audit – Focus Areas for 2019

Monday, February 11, 2019
Financial Crime Audit Focus Areas 2019

"Food for Thought" is a series showcasing insights and best practices from Exiger's roundtables, where senior professionals and thought leaders come together to discuss the latest industry developments over a bite to eat.

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The emergence of new financial crime risks, sparked by factors such as technological innovation, PSD2 and open banking, mean that the coming year won't simply be business as usual for internal audit functions. Collaboration and benchmarking are critical if auditors are to keep pace with their businesses.

In this context, senior financial crime audit professionals from 11 leading financial institutions shared the risk types and products they will focus on in their 2019 audit plan at a recent roundtable discussion in London.

Download the full Financial Crime Audit: Focus Areas for 2019 Graphic [PDF]

Top 5 risk types:

  1. Fraud
  2. Customer due diligence
  3. Governance / policy & procedures
  4. Anti-bribery & corruption
  5. Transaction monitoring systems & SARs

Banking products of most concern:

  • Correspondent banking
  • Trade finance (including know your customers’ customers – KYCC)

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Exiger is a global authority on regulatory compliance. We have worked with financial services firms and regulators across the world to enhance and assess the effectiveness of financial crime programmes.

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Samar Pratt, Managing Director

Samar Pratt is a Managing Director based in Exiger’s London office, where she focuses on the firm’s financial crime compliance audit and assurance practice. With over two decades of experience, Samar brings a strong understanding of the regulatory environment and current drivers within financial services to the Exiger team.

Dayna Bordin, Managing Director | EMEA Deputy Head, Financial Crime Compliance

Dayna is a Managing Director and EMEA Deputy Head of Financial Crime Compliance based in Exiger’s London office, where she focuses on the firm’s financial crimes compliance and investigative operations. A specialist in anti-money laundering (AML), Dayna brings extensive corporate and criminal investigation experience to the Exiger team.

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