How to strengthen financial crime controls

Financial crime is evolving fast, becoming more sophisticated, cross-border and digitally enabled. This episode examines how organisations can move beyond reacting to fraud and take a proactive approach to building controls that anticipate how criminals may attack their systems. The discussion is particularly relevant as Australia extends AML/CTF obligations to professions including accountants, lawyers, and real estate professionals. Listeners will gain expert insight on: * Why fraud and AML/CTF should be treated as two sides of the same problem * How to test products and processes from a fraudster's perspective * Why continuous surveillance matters after customer onboarding * How banks, regulators and other industries can share intelligence * What shared responsibility means for professional advisers * How AI is being used to detect financial crime and why AI will also increase the threat * Where firms should start when strengthening AML/CTF controls Tune in now. Host: Elinor Kasapidis [https://www.linkedin.com/in/elinor-kasapidis-00852765/], chief of policy standards and external affairs, CPA Australia. Guest: Vincent Mok Yau Yee. [https://www.linkedin.com/in/vincent-mok-1992185a/] He is currently a member of the Malaysian Divisional Council of CPA Australia and the group chief risk officer for GXS Bank based in Singapore. Learn more about GXS at its website. [https://www.gxs.com.sg/] CPA Australia also has information on anti-money laundering reforms [https://www.cpaaustralia.com.au/public-practice/new-and-existing/your-obligations/aml-ctf-au] as well as guidance for practitioners around AML/CTF. [https://www.cpaaustralia.com.au/professional-development/courses-and-events/aml-ctf-practitioners-are-you-ready] Loving this episode? Listen to more With Interest episodes and other CPA Australia podcasts on YouTube. https://www.youtube.com/@CPAaustralia/podcasts And don't forget to click subscribe to the channel for a wide range of content that will help your career. CPA Australia publishes four podcasts [https://www.cpaaustralia.com.au/tools-and-resources/podcasts], providing commentary and thought leadership across business, finance and accounting: With Interest https://www.cpaaustralia.com.au/tools-and-resources/podcasts/with-interest INTHEBLACK https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack INTHEBLACK Out Loud https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack-outloud Excel Tips https://www.cpaaustralia.com.au/tools-and-resources/podcasts/excel-tips Search for them in your podcast platform. Email the podcast team at podcasts@cpaaustralia.com.au