Key takeaways from the report include:
➡️ The scale of online fraud is unprecedented, with AI and access to data leading to cases that are expected to outpace other forms of serious and organised crime;
➡️ Criminals are increasingly investing illicit proceeds in parallel financial systems, facilitated by online platforms and emerging technologies such as blockchain;
➡️ The infiltration of legal business structures continues to facilitate illicit financing with insider threats being of particular concern; and
➡️ Corruption is a major threat due to it’s ability to facilitate other forms of criminality and is increasingly targeting individuals with access to digital systems.
✅ Firms operating in the EU should review their risk assessment methodologies, ensuring they are tailored to the evolving threats outlined in the report.
💡 Plenitude’s Advisory & Transformation Services deliver Business-Wide Risk Assessments, helping clients to assess their inherent and residual financial crime risks. Visit our website for more information: https://www.plenitudeconsulting.com/services/advisory-and-transformation