
With Interest
How to strengthen financial crime controls
Financial crime is evolving fast, becoming more sophisticated, cross-border and digitally enabled. This episode examines how organisations can move beyond reacting to fraud and take a proactive approach to building controls that anticipate how criminals may attack their systems. The discussion is particularly relevant as Australia extends AML/CTF obligations to professions including accountants, lawyers, and real estate professionals. Listeners will gain expert insight on: Why fraud and AML/CTF should be treated as two sides of the same problem How to test products and processes from a fraudster's perspective Why continuous surveillance matters after customer onboarding How banks, regulators and other industries can share intelligence What shared responsibility means for professional advisers How AI is being used to detect financial crime and why AI will also increase the threat Where firms should start when strengthening AML/CTF controls Tune in now. Host : Elinor Kasapidis , chief of policy standards and external affairs, CPA Australia. Guest: Vincent Mok Yau Yee. He is currently a member of the Malaysian Divisional Council of CPA Australia and the group chief risk officer for GXS Bank based in Singapore. Learn more about GXS at its website. CPA Australia also has information on anti-money laundering reforms as well as guidance for practitioners around AML/CTF. Loving this episode? Listen to more With Interest episodes and other CPA Australia podcasts on YouTube. https://www.youtube.com/@CPAaustralia/podcasts And don't forget to click subscribe to the channel for a wide range of content that will help your career. CPA Australia publishes four podcasts , providing commentary and thought leadership across business, finance and accounting: With Interest https://www.cpaaustralia.com.au/tools-and-resources/podcasts/with-interest INTHEBLACK https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack INTHEBLACK Out Loud https://www.cpaaustralia.com.au/tools-and-resources/podcasts/intheblack-outloud Excel Tips https://www.cpaaustralia.com.au/tools-and-resources/podcasts/excel-tips Search for them in your podcast platform. Email the podcast team at podcasts@cpaaustralia.com.au Chapters: 00:00 Opening 00:19 Podcast intro AML/CTF, fraud risks and financial crime controls 01:31 Vincent Mok's career journey from CPA to digital bank CRO 04:19 How digital banking is changing the financial crime landscape 05:08 Fighting financial crime: From defensive controls to proactive risk management 07:08 Designing fraud-resistant products and thinking like a fraudster 09:29 Fraud, scam victims, money mules and vulnerable customers 11:22 What effective fraud controls and AML governance look like 15:26 Industry collaboration, intelligence sharing and public-private partnerships 19:00 AML/CTF obligations for accountants, lawyers and professional advisers 23:15 AI, deepfakes and using artificial intelligence to combat financial crime 26:29 Getting started with AML/CTF compliance and shared responsibility 29:19 Key takeaways on fraud prevention, AML controls and digital banking security 30:15 CPA Australia AML/CTF resources and closing remarks


