Simudyne has been featured in 2019 Corruption Report: Financial crime compliance for non-financial companies: The expanding regulatory perimeter,
“The technical challenge is, how do companies detect financial crime in a way that doesn’t generate a lot of false positives, which are extremely expensive to investigate. If a company then files paper work with the authorities based on a false positive, it could be damaging to customers. There could be serious consequences,” Lyon said.
“However, if they don’t catch it and report it, with some of the new regulations coming into force and regulatory and law enforcement appetite for these cases, a company director could end up in jail if shown to have exercised willful ignorance,” he said.