20211117 To add speed, add lightness: applying engineering principles to financial crime risk and compliance.

Listen to this blog at Financial Crime Broadcasting

Let’s start with a statement that will upset the bubble people who pay attention only to those of like mind and will be applauded by those who truly understand the issue of financial crime risk and compliance both from the point of view of practitioners and in legislatures and regulators.

The reason that financial crime risk and compliance doesn’t work effectively is that it’s over-complicated and flabby. It is, in every sense of the term, ″not fit for purpose.″ There is, quite simply, just too much, too much detail and too much that is is counter-productive and counter-intuitative.

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