How to combat financial crime through data sharing and collaboration

The battle between GDPR/data minimisation and fraud prevention is a tough one to navigate but there is widespread agreement that further collaboration on data is necessary to tackle financial crime.

The Economic Crime and Corporate Transparency Bill will only go so far towards enabling information sharing between certain businesses for the purposes of preventing, detecting, and investigating economic and financial crime. So, what can the private sector do to expedite progress and how can you protect your business from poor data quality?

This webinar, in partnership with Form3, Benefactor of Project Financial Crime, explores data sharing initiatives and solutions that allow for public-private data sharing, as well as the risks of low collaboration and siloed data.

The results for the polls were as follows:

1. Do you think current data protection laws are a barrier to sharing relevant information?

• Yes = 72%
• No = 28%

1. In terms of data sharing, should there be a central depository which can be accessed by all AML regulated entities?

• Yes = 79%
• No = 21%