To embed, copy and paste the code into your website or blog: Compliance Professionals continue protecting their Financial Institutions during these unprecedented times. They have become a source of regulatory information for Financial Institutions facing challenges that are changing from day to day. As the Pandemic continues, Compliance Departments and Compliance Officers working remotely bear an additional responsibility for assuring proactive risk identification, assessment, and mitigation. Regulators expect full funding of the Compliance function.
Fraud, Fraud and More Fraud Fraud is a continuously evolving threat during the Pandemic with Imposter Scams, Investment Scams Product Scams, and Insider Trading adding more stress to the compliance function. There are fraudsters that will pretend to offer “important” information when attempting to convince individuals to click on malicious links. These links can install malware, obtain personal/confidential information, as well as login and password credentials. Compliance Officers are usually “gatekeepers” in a Financial Institution relating to fraud scheme detection. That said, the rise in Fraud has compounded the stress level at the compliance function.