Financial crime is converging, accelerating and becoming more sophisticated – driving a need for more advanced and holistic approaches to compliance.
This is according to experts from Bateleur Software and IMTF, who were speaking ahead of the second annual Compliance Forum for compliance, financial crime and anti-money laundering professionals.
Lizette Sander, Account Manager at Bateleur Software, says: “Traditional, siloed and retrospective approaches to AML and financial crime monitoring are increasingly misaligned with today’s realities, particularly in the context of real-time payments, evolving crime typologies and rising regulatory expectations. To remain compliant, organisations must change – structurally, technologically and operationally – for a more holistic approach to AML, fraud, sanctions and transaction monitoring.”
Sander notes: “Criminal activity does not occur in silos, and compliance frameworks must reflect this reality. This is why we are seeing a global shift towards integrated, end-to-end financial crime approaches and solutions.
“Financial crime is becoming more complex, faster and more adaptive, so static rule-based systems struggle to keep pace with emerging threats. Organisations need a greater emphasis on adaptability, intelligence and context. At the same time, AI and advanced analytics are playing an increasingly important role in AML to manage vast volumes of transactions at speed. Within this environment, governance, explainability and human judgment remain essential. The future lies in responsible AI supported by strong human oversight,” she says.
Sam Selmer-Olsen, CEO of Bateleur Software, says Bateleur Software partners with leading global financial crime specialists such as IMTF to bring deep international expertise in AML and compliance technology to South Africa, to support financial institutions in navigating evolving compliance challenges.
Bateleur and IMTF will address key trends in financial crime and global best practice in compliance at the upcoming Compliance Forum in Johannesburg next month.
The forum is themed: ‘Holistic Compliance in Action: Navigating Financial Risk in a Complex, Fast-Moving World’ and will feature keynotes from Dr Sudesh Pursad, MD of Blue Semper Consulting, who will deep dive into the current financial crime landscape, and Dr Sebastian Hetzler, co-CEO of IMTF, who will showcase the IMTF platform for holistic financial crime compliance. Attendees will also get insights from experts such as Rianné Potgieter, CEO of the International Federation of Compliance Associations (IFCA), and Valeriy Voditchenski, Executive Director at IMTF, with speakers covering topical issues such as cloud compliance, risks associated with crypto, AI in compliance, turning technology into trusted decision support and preparing for a regulatory inspection.
The Bateleur Software-IMTF Compliance Forum will be staged at the Pivot at Montecasino on 17 March. Attendance is free to heads of compliance, heads of financial crime/AML, risk, governance and regulatory leaders, CIOs and CTOs within financial institutions, and senior decision-makers in banks, fintechs and regulated entities.
To register for this event, click here.
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