NEWS
More than two-thirds of UK risk professionals expect financial crime risk to increase in 2023
Some ( 22 %) UK respondents expect this increase in crime risk to be ‘ significant ’, below the global average of 26 %. Meanwhile , just 30 % of UK respondents rate their financial crime compliance programme as ‘ very effective ’, this is in-line with the global average ( 30 %), level with the figure for Germany ( 30 %) and ahead of the figures for the US ( 26 %) and France ( 26 %). Well over half ( 62 %) of surveyed global companies are expecting an uptick in levels of government regulatory enforcement actions in the next 12 months .
A third of UK respondents ( 32 %) warned that ‘ cybersecurity and data breaches ’ is the primary driver behind the anticipated increase in financial crime risks followed by ‘ financial pressures on companies or individuals ’ ( 16 %) and the ‘ impact of remote working ’ ( 16 %).
Kroll , a leading independent provider of global risk and financial advisory solutions , has revealed that more than two-thirds ( 68 %) of UK risk experts expect financial crime risks to increase over the next 12 months . The findings come as part of Kroll ’ s newly released 2023 Fraud and Financial Crime Report , which surveyed 400 risk professionals across four continents . UK respondents were broadly in agreement with their global counterparts and the figure for all respondents was 69 %.
Globally , the report also found that firms are facing new challenges such as the risks posed by cryptocurrency , with almost a quarter ( 24 %) globally listing it as a ‘ significant ’ concern . Just 31 % of global respondents said that their compliance programmes currently cater for risks associated with cryptocurrencies .
To counter a potential uptick in financial crime , the report found that more than two-thirds ( 68 %) of UK respondents are planning to invest further in technology , while 62 % will increase cybersecurity budget .
Trade Ledger announces new Product and Engineering lab in Poland
Trade Ledger , the global technology provider for the commercial banking and financial services industry , is excited to announce the opening of its new office in Krakow , Poland . This strategic expansion marks Trade Ledger ’ s first development hub in the EU , further strengthening its global footprint and enhancing its ability to service its global clients . booming tech scene provides us with access to top engineering talent and enables us to better serve our clients . This expansion aligns with our vision of being a global leader and reinforces our commitment to delivering exceptional value to our clients .”
The decision to establish an office in Poland was driven by the country ’ s thriving tech scene and the abundance of highly skilled engineering talent . With its newest location , Trade Ledger will continue to accelerate and innovate on behalf of its customers .
“ While our lab in Sydney has been an integral part of Trade Ledger for many years , we have been strengthening our lab in Poland over the last 12 months and the change will allow us to capitalise on the wealth of programming experience in Poland ,” said Riccardo Pietri , VP Engineering and DevSecOps for Trade Ledger .
Tony Hurlock , VP Engineering and Support , said : “ This is an exciting time to join and build the Trade Ledger team . I look forward to continuing to grow our Poland office and bringing the region ’ s top engineering talent to Trade Ledger ’ s growing roster of clients .” Martin McCann , CEO and Co-founder of Trade Ledger , added : “ We are thrilled to open our first development hub in Poland . Krakow ’ s
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