In order to offer solutions to help compliance professionals, LexisNexis Risk Solutions recently held a conference that brought together several representatives of the financial sector, industry, compliance and regulation experts.

The discussions focused on how the jurisdiction can overcome current financial crime and fraud prevention compliance challenges, with the rise of scams and how evolving risks can be addressed using technological solutions. According to Jonny Bell, Director, Financial Crime Compliance Strategy at LexisNexis Risk Solutions style="font-family: "Bookman Old Style”, "serif" >, “geopolitical tensions are causing a dispersion in the regulatory landscape, which has a impact on sanctions. ESG measures are also gaining ground, requiring financial institutions to incorporate them into their compliance activities. The rise of digital assets, such as Bitcoin, is attracting increased regulatory scrutiny, with authorities setting up specialized bodies such as the Virtual Assets Regulatory Authority in the United Arab Emirates. All of these trends are influencing how businesses invest in compliance solutions.”