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Learn how to strengthen your CDD (Customer Due Diligence) process to safeguard your operations from costly mistakes. Register now to ensure your business stays one step ahead of money laundering threats!

📢 Customer due diligence (CDD) processes remain the largest single operational cost, representing two-thirds of total financial crime compliance costs in 2022. This significant expense highlights the critical role of CDD in preventing financial crimes. Financial institutions are investing heavily in CDD to meet regulatory requirements and protect against money laundering, fraud, and other illicit activities. Despite advancements in technology, the complexity and labor-intensive nature of CDD contribute to its high costs. 📢 To see more of the breakdown, read our True Cost of Compliance report. #FinancialCompliance #CustomerDueDiligence #CDD #ComplianceCosts #FinancialCrimePrevention #TrueCostOfCompliance #2022Report https://lnkd.in/dKRQdMbE .

📢 Customer due diligence (CDD) processes remain the largest single operational cost, representing two-thirds of total financial crime compliance costs in 2022. 📢 To see more of the breakdown, read our True Cost of Compliance report: https://lnkd.in/g5VCx4wV .

📢 Customer due diligence (CDD) processes remain the largest single operational cost, representing two-thirds of total financial crime compliance costs in 2022. 📢 To see more of the breakdown, read our True Cost of Compliance report: https://lnkd.in/dzxSi_Px .

Are you aware of your high-risk customers? Effective PEP screening can help you avoid financial crimes and protect your reputation. Financial institutions, legal services, and other high-risk industries demand thorough customer due diligence (CDD). However, are you aware of the hidden risks linked with Politically Exposed Persons (PEPs)? Click here to learn more about PEP checks: https://lnkd.in/dmNvhnvk   #PEP #PEPList #CustomerDueDiligence #AML #RiskMitigation

📢 Customer due diligence (CDD) processes remain the largest single operational cost, representing two-thirds of total financial crime compliance costs in 2022. 📢 To see more of the breakdown, read our True Cost of Compliance report: https://lnkd.in/egVXgftZ .

📢 Customer due diligence (CDD) processes remain the largest single operational cost, representing two-thirds of total financial crime compliance costs in 2022. 📢 To see more of the breakdown, read our True Cost of Compliance report: https://lnkd.in/e39XTskT .

In an insightful interview on the "Podcast Player" show, Jonny Bell from LexisNexis Risk Solutions discusses the intricate challenges and rising costs in financial crime compliance. Speaking with Tony from COVER Magazine, Jonny highlights how #geopolitical events and changing regulatory frameworks significantly influence #compliance strategies. As these external factors evolve, organizations face increasing pressure to adapt their compliance mechanisms efficiently to stay ahead of sophisticated financial criminals. This evolving landscape demands not only advanced technological solutions but also a deep understanding of global trends impacting financial regulations. #FinancialCrimeCompliance #LexisNexis #PodcastPlayer #RegulatoryChallenges #GeopoliticalInfluence #ComplianceCosts

📢 Customer due diligence (CDD) processes remain the largest single operational cost, representing two-thirds of total financial crime compliance costs in 2022. 📢 To see more of the breakdown, read our True Cost of Compliance report: https://lnkd.in/ef-Cgfg6 .

What has your organization done to minimize the risk of financial misstatement? Audits can be an effective antifraud control. Here’s one hot spot auditors often target to unearth financial statement fraud. https://hubs.la/Q02GzcKL0