Guidance and best practices from the Basel Committee on Banking Supervision, the Financial Stability Board, and the Financial Action Task Force (FATF) state the importance of boards and senior management establishing a culture of compliance and the development of compliance-focused values within institutions, regardless of size and business model. In line with expectations to set the “tone at the top,” an institution’s leadership is expected to demonstrate a commitment to compliance, including showing that revenue interests are reasonably balanced vis-a-vis risk considerations. Compliance managers across industry require leadership’s support to provide resources, technology, and people, and to establish programs that effectively and efficiently identify risk exposure in line with evolving regulatory expectations and the institution’s risk appetite.

In this panel discussion, Kharon brings together three industry leaders with extensive experience in combating illicit finance who have served in government as well as on the boards of some of the world’s largest financial institutions. The discussion addresses lessons learned, current trends, and the way forward in the fight against financial crime.