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Tackling a trillion dollar issue: Deloitte kicks off region wide financial crime roadshow in Singapore

SINGAPORE, 10 March 2014 — Deloitte, a globally recognized financial crime strategy advisor to leading domestic and international corporations, launched a three country symposium series today featuring a proprietary, state of the art curriculum designed to help senior executives understand the complex threats that financial crime impose on their organizations.

“Our clients in no uncertain terms have told us that financial crime is a stay-awake issue for them, which is completely warranted given that trillions of dollars and their organization’s reputation are at stake. The issues driving those concerns are complex, including tightening regulation, growing demands by customers for integrity in firms’ financial dealings, increasing criminal sophistication, access to new and emerging technologies, social networks, and economic and political turmoil,” said Tim Phillipps, Deloitte Analytics and Forensic Global Leader.

In response to this clear need, Deloitte mobilized its financial crime network, that spans 700 cities in nearly 150 countries with over 10,000 professionals, to combine its depth and breadth of technical capabilities with its extensive industry knowledge to create a one of kind tailored solution for any aspect of financial crime.

Choosing Singapore as the first location globally to launch the program, the three city symposium series is a distillation of those capabilities to give attendees an overview of the challenges they face, and the steps needed to successfully deal with those challenges.

Given the role technology plays in both facilitating and combating financial crime Deloitte has teamed up with IBM to sponsor the Asian symposium series.

The symposium kicked off in Singapore today to be followed by Jakarta on 12 March 2014 (Wednesday), and then to Hong Kong on 14 March 2014 (Friday). Among the topics addressed are:

  • Making management, Boards and staff more accountable for oversight and compliance
  • Meeting the challenges of cybercrime and virtual criminal networks
  • Assessing and managing anti-bribery and corruption related risks
  • Managing complex products and services across geographies to deter and detect malfeasance
  • Assessing risk and emerging analytical tools, methodologies and incident reporting processes
  • Build a long term strategic approach to addressing the risk of financial crime and protecting a company’s brand and reputation

“The goal of these symposiums is to help corporations to understand the impact of financial crime and the need for a comprehensive proactive strategy to keep one step ahead of the criminals. The best approach is to treat financial crime as a daily threat and not only react to it as a discrete event,” said Mr. Phillipps.

“Corporations need an enterprise wide, integrated risk management strategy that accounts for the entire lifecycle – compliance, prevention, detection, investigation, remediation, monitoring, and testing. A silo, minimal approach will no longer cut it,” concluded Mr. Phillipps.

Deloitte is very well equipped to assist companies with these challenges having assembled, across the globe and in Asia, teams of professionals with many years of experience in strategy and operations, cybercrime, fraud and corruption investigations, corporate governance and compliance along with a deep expertise in big data and the application of analytics to managing financial crime.


Carie-Anne Bak
Deloitte Singapore
Job Title:
Marketing & Communications
+65 6531 5203
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