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Publication
L’IA générative
L’intelligence artificielle (IA) soulève de nombreuses questions en matière de propriété intellectuelle (PI).
Australie | Publication | 6 November 2019
Anti-money laundering (AML) risk is fast evolving into one of the key risks any business has to manage. If companies get their AML risk management wrong, it can mean major reputational damage and massive value destruction for investors. After all, no one wants to be seen as an accessory to criminality.
In AML and counter-terrorism financing, things are accelerating in Australia and around the globe and boards and managers need to move quickly up the curve in dealing with this risk.
A couple of recent trends are highlighting AML as a key risk to mitigate:
(1) Heightened Enforcement
(2) Regulatory Change
The Global Financial Action Task Force is currently reviewing Australia’s AML framework. And the Parliament is considering a new Bill to amend Australian AML legislation.
The Bill contains a range of overdue measures that seriously strengthen Corporate Australia’s capability to fight money laundering, bringing it closer to the standard of other developed economies:
The Bill, if passed, will not provide a silver bullet for regulated entities. Regulated entities must continually assess their legal, regulatory and reputational risk arising from financial crime, and then deal with those risks (echoes of Hayne).
And they will need to get across the Bill’s implications for their business.
Building a Culture of Compliance
Updating your Risk Assessment
Review your Risk Assessment regularly. You need to determine the impact of the changes to the AML landscape and legislation. Make this an agenda item for the Board or at the very least your Risk Committee.
Go back to first principles when you make changes to your systems, policies and processes. Failing to ask the “why” can mean that risks are misunderstood leading to possible money laundering exposure.
Aligning Technology
Implementing and adapting technology solutions is essential for managing AML risk. Your AML related technology has to keep up with your business and how bad actors are exploiting control weakness.
One of the causes of recent examples of non-compliance was an integration failure between IT systems and ineffective communication between the risk owner and those responsible for technology.
With the challenging AML landscape, boards and senior management should obtain independent advice to assist them discharging their AML obligations and particularly when instances of AML non-compliance occur.
How those instances are managed could be critical to customer retention and, even, business continuation.
Publication
L’intelligence artificielle (IA) soulève de nombreuses questions en matière de propriété intellectuelle (PI).
Publication
Depuis 2022, le gouvernement du Canada a apporté trois vagues de modifications à la Loi sur la concurrence (Loi), apportant des modifications importantes aux lois canadiennes sur la concurrence, les plus récentes modifications ayant reçu la sanction royale le 20 juin 2024. Notre publication sur toutes les modifications se trouve ici.
Publication
Les systèmes d’IA générative sont entraînés au moyen de gros volumes de données, souvent tirées de sources du domaine public qui peuvent être protégées par le droit d’auteur ou d’autres droits de propriété intellectuelle, comme un droit sur les bases de données au Royaume-Uni et dans l’UE.
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