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SoFC 2024

The State of Financial Crime 2024

Download our annual state of the industry report, built around a global survey of 600 senior financial crime decision makers. Packed with practical tips from our Regulatory Affairs experts, the report explores the major trends and topics set to shape the year in compliance.

The key findings include:

  • AI and automation: 89% of firms say they’re comfortable comprising explainability for automation when deploying AI in their AML tech stacks. But how does this compare to regulators’ expectations?
  • PEPs and elections: 61% expect to take a more risk-averse approach to PEPs in the next 12 months. With 40+ national elections scheduled for 2024, will firms be able to keep up with the changing volumes of PEPs?
  • Real-time payments: 90% have joined - or will join - a real-time payments program. What steps must firms take to prepare their AML programs for faster payments?
  • Compliance investments: 49% of firms plan to add new technologies or capabilities, with 46% upskilling their compliance team. Can investments keep up with the growing complexity of financial crime?

Ready to read the report?

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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