From the ground up: Building a compliance analytics program

In the fight against financial crimes, today’s organizations must focus on building compliance programs that are increasingly driven by analytics. While PwC’s Global Economic Crime and Fraud Survey 2018 indicates that 42 percent of companies have increased their spending over the past two years to combat financial crime (an increase of 2 percent from 2016) and that 44 percent intend to boost their spending over the next two years, many businesses are falling behind with their compliance analytics. According to KPMG’s CCO (Chief Compliance Officer) Survey of 2017, which spoke with CCOs representative of the FORTUNE 100 to gather their thoughts on their organization’s compliance journey, data analytics still remains one of the least mature components of most compliance programs.