In parallel to the ongoing integration of external fraud into the responsibilities of the Anti-Financial Crime or Compliance leaders’, the growing challenge of internal fraud is a critical area of concern for those responsible for minimizing financial crime risks within their business. As well as being a financial risk in of itself, internal fraud is also intrinsically linked to other areas of both external financial crime - making this a field you can’t afford to ignore

This session will match the practical aspects of how Richard Wilson of OSB has recently completed a full overview of their internal fraud policies, whilst Claire Maillet can provide academic context of why internal fraud is such an issue, and why this should sit alongside external fraud and money laundering as a critical area of focus for you in 2024 and beyond.

A coherent FinCrime risk management structure is a critical part of any financial institutions’ ongoing operations. However, the compliance / anti-financial crime function can be seen as something of an afterthought, which is not included in key business decisions, therefore limiting the impact it can have. This session will focus on how to change this positioning, and will delve into:

• How can you work with the business to ensure the needs – and concerns – of the FCC groups are central to broader decision making within your organisation?
• Maintaining relationships with the first line and across the organisation; what strategies can you employ to ensure they view you as a business enabler?
• Going beyond “tone from the top” – gaining support from the executive level in closed door meetings as well as in public, in the face of typical growth pressures