No Match Found
From the Black Money Bill to demonetisation of high value currency notes and the imminent crackdown on Benami properties, in the last year we have witnessed strong measures to curb corruption in India. These steps clearly signal a stricter, more vigilant and compliant business environment - moving towards zero tolerance of unethical and corrupt practices.
In addition, there is growing sense of watchfulness and alertness towards enforcement by international regulators on companies operating in India and Indian corporates operating overseas.
With the increase in information sharing across the globe and potential impact of regulatory enforcement, it is prudent for businesses to be ahead of the curve by constantly focusing on assessing and mitigating business risks.
Given the growing scrutiny to curb financial crime, it’s very important for financial institutions in India to reassess the target operating models of their financial crime and compliance functions. It is important to treat compliance as a strategic initiative across the institution and not operate in silos. That is when they will be able to address financial crime in a more more structured, efficient and proactive manner. There’s only one choice – act now or react later.