Thomson Reuters Report: Financial Crime Compliance for Non-financial Companies: The Expanding Regulatory Perimeter

This report is by risky woman Rachel Wolcott, Nathan Lynch and Brett Wolf.

Financial crime risk has been a top priority for banks and other financial services firms over the past two decades. Regulators are tightening the penalties on both financial and non-financial institutions to prevent criminals and terrorists from exploiting the financial system. From professional football clubs and car dealerships to construction and retail companies, criminals are finding clever ways to layer their money into the legitimate economy, which means any business can be compromised by such activity.

This inaugural report explores why penalties for money laundering violations are becoming more commonplace for non-financial firms and suggests solutions and recommendations for business as they try to remain compliant. The report covers the following key topics: