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APAC Financial Crime Outlook 2021: Banking on Uncertainty
In 2020, Covid-19 upended the global economy and presented a perfect storm of opportunity for criminals to exploit vulnerable systems, individuals and companies for illicit gains.

Yet, advances in technology and data practices have played a key role in helping financial institutions respond to financial crime threats as they evolved.

In this paper, we examine key areas where this has been observed most prominently, and our expectations for further progress in the year ahead.
95.5% of poll participants expected financial crime to increase during the pandemic
USD 4 billion imposed by APAC's regulators in fines for AML and KYC violations in the first half of 2020 with regulatory activity expected to increase in 2021
65% of respondents know or suspect that third parties they deal with may have been involved in a range of illegal, environmentally damaging activities

Resources
ON-DEMAND WEBINAR: Financial Crime Outlook 2021

In this webinar, we outlined emerging trends in financial crime management and technological advances that will help institutions respond to financial crime threats as they increase in sophistication in the year ahead. 

BLOG: What are the key trends in risk and compliance for 2021?

Phil Cotter, Managing Director of the Refinitiv Risk business, takes a look ahead in 2021, also reviewing of some of 2020’s key themes and trends in the risk and compliance space.


How Refinitiv can help
Refinitiv's comprehensive suite of solutions can help

  • World-Check Risk Intelligence data enables efficient risk screening (including sanctions, bribery and corruption, adverse media)
  • Refinitiv Due Diligence (RDD) can be used for initial due diligence on alternate suppliers and where heightened risk is detected
  • Qual-ID offers a powerful combination of digital identity verification, document proofing, and risk screening via API technology

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