We have all entered the brave new world of remote working. This has propelled many organisations to acclimatise quickly to new ways of operating. The world of work is evolving at real speed which creates issues that must be addressed, but also presents opportunities for forward-thinking firms to leverage.
The UK FCA has been very clear in stressing that these unprecedented times are not a holiday for money launderers and the regulator still ‘‘expects firms to take all reasonable steps to meet their regulatory obligations." Similar messages have emanated from most other regulators around the world and they have also highlighted new AML and terrorist financing risks that exist in this different world.
In today’s virtual world, how can you ensure you are meeting your regulatory obligations, maintaining critical business continuity and delivering value to your clients?
The challenges faced by remote working can cause wide reaching disruption:
Reduced team productivity
Loss of revenue through impaired client on-boarding functions