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6/29/2009
04:21 PM
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Survey: Money Laundering, Fraud Dominate Financial Institutions' Top Priorities

91% of the participants see a business value in adopting the risk-based approach regardless of their country's regulation

BENSHEIM, Germany, June 29 /PRNewswire/ -- Organizations are spending millions of dollars each year on their compliance programs. However, many senior executives have become frustrated. Despite the high costs involved in implementing compliance programs, they are seeing little business value other than being able to pass an annual audit.

Is an investment in compliance truly a sunken cost? Or are there ways to leverage this spending to capture the full value of your compliance technology investments?

In May 2009 TONBELLER conducted their AML and fraud global benchmark survey, entitled "Mind the Gaps", which captures the viewpoints of 152 leading compliance professionals from 41 countries around the world concerning these questions.

Key findings of the report include:

- Only 36% of respondents said their organizations had integrated their anti-fraud and AML efforts enterprise wide - With 31% internal fraud has emerged as the top priority among fraud crimes; this may be a consequence of the current economic climate - 91% of the participants see a business value in adopting the risk-based approach irrespective of their country's regulation

For more key findings and a complimentary copy of the report visit: http://www.tonbeller.com/aml_fraud_survey

The authors are currently in Asia (Hong Kong, Beijing, Tokyo, Singapore) presenting the results of the survey as part of a world-wide roadshow.

For more information on locations and dates please visit http://www.tonbeller.com/roadshow.

About TONBELLER

TONBELLER provides financial crime and compliance solutions enabling banks, insurance companies and other financial service providers to control the defence and evolve strategies against money laundering, terrorism financing and internal/external fraud as well as market abuse.

Learn more about TONBELLER: http://www.tonbeller.com

Media contact: Bengt Hellbach Phone: +49-6251-7000-350 email: [email protected]

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