What happens when firms get financial crime compliance wrong? A decade ago, the compliance world was rocked when US authorities handed HSBC a $1.9 billion fine for ‘unacceptable failures’ in its anti-money laundering procedures. And they weren't the only ones. These fines set a lot of activity into motion within financial institutions and the policy world. But to what effect?
Roger McCormick of Bayes Business School joins CFCS’s Isabella Chase to dive into the punishment playbook, exploring its impact, how it has changed and where it might be heading.
Suspicious Transaction Report Podcast Series
The Suspicious Transaction Report is the flagship podcast of RUSI’s Centre for Financial Crime and Security Studies (CFCS). It offers 'behind-the-scenes' insights and practical advice on how to implement the latest financial crime research and policy developments in the real world – from anti-money laundering and illicit flows to sanctions evasion and cryptocurrency abuse.
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Associate Fellow; Former CFCS Senior Research Fellow, RUSI