Compliance Evolves
Of late, one of the biggest challenges facing any #bank doing business is keeping up with the ever-changing #compliance landscape. With the ever-increasing sophistication of business practices coupled with stringent industry regulations and best practices that have become more rigorous and multifarious in nature, it goes without saying that any form of omission or negligence in this key area of business can result in substantial reputational and financial loss.
Despite the fact that the banking #business today faces an increasing number of challenges, industry players would be more resilient if they were to stay ahead of the curve by providing higher standards of compliance supervision while increasing their customer screening efficiency. In the end, change is constant, compliance standards continue to #evolve, and those who adapt quickly and skillfully would enjoy a distinct competitive edge.
By Newman Trust Investment Bank Ltd.
Chief Compliance Officer – Zulkifli Hassan
