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South Africa Survey 2019

Libro electrónico

South Africa Banking Survey 2019

Should Banks Adopt an Integrated Approach to Fraud Management and AML Compliance?

Libro electrónico

Introduction
For many years the banking industry in South Africa has talked about the fraud and AML compliance departments working together more closely. It's widely discussed that convergence of the two functions will support more effective financial crime* management and improve operational efficiency. But it is difficult to gauge how far along the path to a single crime-fighting unit most banks are. To understand the banking sectors strategies, concerns, and plans for financial crime integration, FICO commissioned independent research.

About the survey
This survey of 114 banks across 6 countries or regions was carried out by research company Ovum. Senior management in fraud and AML compliance functions answered a comprehensive survey. The results in this e-book focus on the responses from respondents in South Africa.

Profile of respondents

  • South African banks with a minimum of 500 thousand customers (54 % of respondents have over 1 million customers)
  • Job titles: Those with direct responsibility for either AML compliance or fraud management from technology, security, fraud, AML compliance, risk, or operational compliance