In a complex, connected and ever-changing world, known and unknown risks proliferate. Financial crime is one such risk. In fact, it's one of the largest systemic risks to the global economy – with devastating impact for businesses and communities around the world.
Financial crime: high frequency, high risk, high cost
Every day, 1.2 billion transactions take place in the global financial system. Spotting which of these is connected to crime is incredibly difficult – especially so when these transactions take place in fraction of a second and are then followed almost instantaneously with yet more related transactions. But disrupting financial crime is not just challenging. It’s expensive too: a global bank’s average budget for disrupting financial crime is over $1b a year.