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Are robots the future of compliance?

Why - and how - technology alone can't detect and prevent financial crime

In our annual survey of financial crime decision-makers, 58 percent of firms globally told us they planned to hire more compliance staff.

At a time when the hiring market is piping hot - one recruitment firm found 96 percent of compliance candidates feel confident about their prospects - over-indexing on talent could be costly. It may not also solve the problem. Global anti-money laundering (AML) fines surged by more than 50 percent in 2022, with banks alone - typically better staffed than many other financial institutions - stumping up more than $2 billion in penalties.

Hiring alone isn’t a scalable solution and won’t solve data-related problems.

Given this context, it’s natural that many leaders may turn their thoughts to robots and the prospect of automating their way to a scalable, efficient operation. While much of the media hype around these topics is overhyped, clearly, investing in better technology and data has to be part of the solution to rising financial crime. That’s why we commissioned this new survey on the role of technology and talent in the future of compliance. 

Download the report to explore how firms can optimize their investments in technology and talent across their fraud and AML programs. You'll get:

  • Data on where and how financial crime leaders are investing in tech and talent you can use to benchmark your organizational plans.
  • An understanding of major pain points and limitations firms are experiencing, so you can develop proactive strategies to overcome these in your organization.
  • Insights from our regulatory affairs experts, who draw on their decades of compliance experience to provide practical tips and takeaways based on the survey data.

Download your guide

Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.

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