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Where do we stand?

Where do we stand?. Little motivation to consolidate financial crime detection/prevention silos - That’s not how we are regulated or examined Very hard to have a global approach - Regulatory standards/expectations vary greatly - Differing views on privacy, information sharing

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Where do we stand?

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  1. Where do we stand? • Little motivation to consolidate financial crime detection/prevention silos • - That’s not how we are regulated or examined • Very hard to have a global approach • - Regulatory standards/expectations vary greatly • - Differing views on privacy, information sharing • - Immaturity of AML in the insurance sector • Technical, silo’d, local compliance is the easiest approach

  2. Where might we be heading? • Increasing political will to consolidate financial crime detection/ prevention efforts • - Fraud, corruption, tax evasion, market manipulation, ID theft • Increasing cross-border focus by regulators • - Bribery laws, tax evasion, information-sharing initiatives • Ever-improving automation tools, facilitating: • - Consolidated financial crime approach • - Centralized/ global approach

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