Key Trends in Financial Crime Compliance

Cyber attacks are intensifying in magnitude and frequency. Financial and identity information is particularly targeted, with attacks attempting to crack financial institutions’ systems. For example, in 2014 a global cyber crime syndicate stole US$45m from two banks by hacking into credit card processing firms and withdrawing money from ATMs in 27 countries. How are banks acting to safeguard themselves against such attacks, and how can big data be used in the fight against this form of financial crime?