We heard that: inflation globally is way too high; the rising cost of living is hurting many households; the world is falling behind on the agreed carbon reduction targets; war is once again tragically occurring in Europe; and the global economy is becoming more fragmented.
Most of the time, it is at the level of the front-liners that the application of this ‘judgment-based’ approach starts. The front-liners need to be well-versed in compliance legislation, manuals and procedures and be able to detect suspicious transactions at an early stage, thus minimising the risks of fraud.