SCOTTSDALE, Ariz., May 23, 2022 (GLOBE NEWSWIRE) — i3strategies®️, a boutique consultancy with unique expertise in the Financial Crime Risk and Compliance space, is pleased to present a White Paper titled: An Industry on the Cusp of Modernization and a Market Full of Opportunities.
In 2022, much is changing for Financial Crime Risk and Compliance professionals, service providers, product vendors, and investors. New laws, stepped-up efforts to clamp down on corruption, and cryptocurrency’s money laundering risks create significant challenges in keeping up with regulatory demands. Add increased beneficial ownership and identity verification rules, and the industry faces the most significant need to upgrade in more than a decade.
Annual global Financial Crime Risk and Compliance costs continue to grow into the hundreds of billions of dollars. As regulations and requirements expand for financial institutions, multinationals, and industries like real estate, law, trust, and accounting, significant investment and expenditure are needed to meet the push to modernize.
The White Paper explores how the mandate to modernize creates opportunities for financial institutions to improve programs and operations, consultants to offer better services, technology companies to build better products, investors to find better investments, and workers to build more fulfilling careers.
All stakeholders, including lawmakers, regulators, financial institutions and corporate leaders, service providers, technology firms, and industry workers, finally seem to be of like mind. Now is the time to substantially improve how to fight financial crime and how doing so will shape world events in favor of freedom.
“In 2022, as new laws and regulations call for Financial Crime Risk and Compliance to modernize, institutions and vendors are seeking to understand which changes to make, how, and when. Now add to this pressure dramatic world events where governments are responding…