New research from FICO highlights the key challenges North American fraud and financial crime teams faced amidst the COVID-19 pandemic. 68 percent of senior executives said that remote working had a major impact on maintaining effective fraud/financial crime prevention functions in the past 12 months. The survey, conducted by independent research firm OMDIA, found that over a third of respondents (38 percent) said COVID19 lockdowns were a main operational challenge. The need for institutions to better identify emerging financial crime challenges (54 percent) and the need to increase the speed in responding to evolving threats.
Source: https://www.helpnetsecurity.com/2021/04/15/aml-compliance-fraud-strategies/