Skip to content


  • Add this article to your LinkedIn page
  • Add this article to your Twitter feed
  • Add this article to your Facebook page
  • Email this article
  • View or print a PDF of this page
  • Share further
  • Add this article to your Pinterest board
  • Add this article to your Google page
  • Share this article on Reddit
  • Share this article on StumbleUpon
  • Bookmark this page

It is time for a new approach to financial crime

Read the full Børsen article here.

Financial crime is a growing threat to societies and economies around the globe. In order to tackle this, new paths need to be considered, especially for the financial sector - but the public sector should also consider new methods. At PA Consulting, we have just released a new report on FinCrime "Partners against Crime," which recommends that, in addition to using more technology, we need to be even more open and share even more data.
In other words, banks and other financial companies need to work even closer together with legislators and competitors. Only in this way we can identify economic crime while it’s taking place, instead of just halting it after it’s occurred. The organisations we highlight must work together in a new way. This new way requires sharing more data on transactions and customer behaviour (of course, under clear rules of play), and using smarter technology to analyze crime more quickly and in more detail. It will involve some investments, but it will pay off - in some cases quickly.

What you need to be aware of as a financial leader:

• You have to take a stand. And have the courage to show visible leadership
• You must embrace new thinking and find new alliances
• You must agree with the other involved about which data to share and when
• You must understand what the law allows - and ensure data protection
• You must decide which joint technology platform your company will use.

One thing is for sure, it's time! What we do today is not the same as we should do tomorrow.

Partners against crime. It's time to act. Differently.

Download our report

Contact the author

  • Simon Rath

    Simon Rath

    Expert in Financial Services

    More than 10 years of experience with compliance, governance, risk management, processes, controls and regulation within the financial sector particularly within banking and insurance.

    Insights by Simon Rath

Contact our financial crime experts


By using this website, you accept the use of cookies. For more information on how to manage cookies, please read our privacy policy.