E34: Why a siloed approach to AML, fraud and cyber crime no longer works.

The Laundry

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2y ago 26:09

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Cybercrime and financial crime are moving closer and closer together.

A growing number of cyber-attacks are believed to be the work of organised crime and combine cyber techniques, fraud and money laundering.

Despite this, most banks and financial services institutions continue to treat cybercrime and cybersecurity as one activity and AML, fraud and loss prevention as another.

As a result, each team will have its personnel, tools, and operating procedures. In some cases, teams are located in separate offices or even separate cities.

This siloed approach no longer works.

So, in this episode, we explore where the synergies are, what it means, and why it is important to close the gaps between cyber and financial crime.

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