The increasingly complex and interconnected world is reflected in a compliance landscape that is undergoing a significant transformation.
The challenges are manifold: From balancing customer expectations with compliance mandates to harnessing the power of big data and emerging technologies. At the same time, the mysteries of ultimate beneficial owners (UBOs) and the intricacies of international trade and sanctions loom large.
These and other challenges will continue to add layers of complexity to compliance as the year unfolds. Here are our predictions for the top financial crime compliance trends to watch in 2024:
- Rising Compliance Costs Intensify the Quest for Balance
- UBOs Get Unmasked
- Real-time Monitoring Provides the Rudder for Navigating Trade Compliance
- Shifting Sanctions and Regulations Drive the Need for Dynamic Compliance
- Data and Analytics Take the Lead as Strategic Assets
- Compliance Investment Points to Artificial Intelligence (AI)
- Wildlife Trafficking Returns to Pre-Pandemic Levels
READ FULL ARTICLE: https://risk.lexisnexis.com/global/en/insights-resources/infographic/financial-crime-compliance-trends
