The global transition to digital banking offers growth and financial inclusion prospects but also brings forth formidable challenges, notably an upsurge in financial crimes, money laundering, and terrorism financing. These threats undermine trust, financial stability, and economic growth.
Global financial leaders convene to tackle financial crime threats
Effectively countering financial crime necessitates extensive collaboration between the public and private sectors, with governments, regulators, industries, businesses, and individuals joining forces to bolster the financial sector’s resilience. It entails active participation in knowledge-sharing initiatives and enhanced international cooperation to fortify defenses against financial crime risks.
The 13th International Conference on Financial Crime and Terrorism Financing (IFCTF), hosted by AICB and CONG, addressed these complex issues and emphasized fostering a culture of trust, integrity, transparency, and accountability.