Everyday, trusted businesses unconsciously enable organised crime.
The media is reflecting a marked escalation in incidents of financial crime - executive corruption; trader abuses; fraud; cybercrime (data theft; account hacking; privacy violations); financial losses; money laundering and sanctions breaches - in some cases triggering multi-million dollar fines and Director liability.
Government estimates of organised crime vibrance suggest its generating $36B today in Australia, and police spokespersons consistently flag that international organised crime syndicates are active inside Australian businesses - manipulating supply chains; IT platforms and accounts.
Organised crime needs to 'lean on' or leverage legal business operations to execute drug trafficking; arms trafficking; child exploitation; human rights abuses; terrorist financing & the illegal trade in protected antiquities and wildlife. Crime uses legitimate business' assets such as supply chains; transport; IT infrastructure; business' funds; customer accounts; data and expertise to enable the business of organised crime. And financial services organisations are obliged to also monitor and report suspicious transactions. And yet in many cases legitimate businesses are not well informed regarding financial crime trends and steps industry can take to mitigate involvement and exposure to commercial crime actors.
When legitimate businesses enable financial crime, organised crime thrives and communities suffer
Fincrime Australia is a privately owned, independent firm established in October 2017 with one goal: to accelerate Australian business leaders' financial crime nous to stem avoidable financial losses & brand damage and disrupt organised crime exploiting our communities.
Fincrime Australia is not a consulting firm. We do not benefit from the scale of business' financial crime problems.
We are trusted guides and coaches to Executive teams, Boards, Company Directors; Finance, Risk and Compliance professionals.
We are experts in our field who have recently worked on money laundering, bribery & corruption, fraud and corporate misconduct issues around the world.
We understand Regulators' expectations. We speak 'risk and compliance' and we are pragmatic, commercial and direct.
We are also Board Directors & successful Executives from industry - we can walk in those shoes.
And we are dedicated to help Australian business defend itself and its customers, shareholders & stakeholders from the escalating risk of financial crime.
fincrime australia is wholly FUNDED BY:
- Patron support of our monthly business podcast and briefing papers. Access starts at $1 per month
- Executive, Board and Directors' confidential briefings and
- Paid professional speaking to industry associations and business groups.
Our focus is not on generating profit.
Our focus is on being a pragmatic magnifier of critical financial crime insight for executive teams, Directors / Boards, business owners & students (tomorrows' leaders) as fast as possible.
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organised crime is the fastest growing business in the world
And vulnerable businesses are A target
Why do we keep seeing corruption, fraud and money laundering incidents in the media?
There is a global skills shortage in financial crime and cyber-security. Organisations today are exposed by what they don't know
In September 2017 there were more than 1,700 open job vacancies for Financial Crime experts on LinkedIn.
Global advisory firms & banks are busy hothousing talent to try to meet escalating demand for fincrime experience to help businesses fill gaps in their own operations.
And Boards are relying on teams often with limited experience.
Many risk and compliance teams in Australian corporations have rarely seen the variety and scale of international threat exposure needed to manage this dynamic field of risk effectively.
When they do have current skills, they often tell us their Board isn't listening or fails to adequately respond to invest in risk mitigation technology, talent or change.
a collective blindspot
Boards' literacy around financial crime is changing - slowly. Financial Crime is still not taught at universities. It's not an MBA subject and business managers have no convenient means of becoming literate and up-to-date in this complex field that is constantly evolving.
At best, Company Directors' education may have covered a few hours on fraud and unconscionable conduct. Directors' education today remains largely silent on governance around business vulnerability to organised crime; complex scams; infiltration of business models; hijack of company resources and rapid response.
Our research across Australia shows relevant, online fincrime resources (insight briefings, updates on lessons learned and technical training) available today are usually dated, academic or technology/ tool-centric.
Fincrime Australia aims to fill this gap by generating convenient, industry-based financial crime insights for easy digestion by busy leaders, managers, company Directors or students.
Stemming risk starts with readyaccess to actionable insight.
FInancial Crime Australia keeps you posted
Our business fincrime podcasts, briefings and reference material is designed to be digested by business leaders in the car - in the gym - on a train or plane - or as you stand on the sideline of a sporting match on the weekend.
They are plain speaking and direct. They are current and they are now yours to use and share.
Request a Directors' briefing
For $1 per month - subscribe to our 25-45 minute podcasts
We welcome your help
Become a patron.Donate your time. Build apps with us. Broadcast our message. Undertake research.
The business community is uniquely positioned to shape the wellbeing of our communities and our planet by closing their doors to financial crime risk and the organised crime that thrives behind it.
Doing so won't be up to governments, regulators or the police.
It will be up to the hundreds and thousands of businesses leaders who, everyday, can make simple decisions that disrupt financial crime perpetrators and stemcorporate misconduct.
Access our resources to ensure you are part of Australia's solution.
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