For decades, banks have separated fraud and Financial Crime Compliance (FCC) into distinct functions — driven largely by regulatory pressure after the 2008 financial crisis. But as technology advances, the case for reunification is stronger than ever. Could merging these functions unlock tens of billions in savings, boost efficiency, and strengthen defences against sophisticated criminal networks?

This white paper explores the history, challenges, and future of fraud and FCC convergence and what it means for financial institutions navigating today’s complex risk landscape.

Who it's for

Chief Compliance Officer · Head of Financial Crime Compliance · Money Laundering Reporting Officer · Head of AML · Chief Risk Officer · Head of Fraud · Head of Fraud Risk & Prevention · Head of Financial Crime Risk · Head of Enterprise Financial Crime · Fraud Strategy Director · Head of Fraud Operations · Head of Financial Crime Change · VP, Financial Crime Risk Management

Key Insights Inside

• How fraud and FCC differ across goals, risk framing, regulation, and KPIs.

• Why compliance spending surged by 60% since the financial crisis — and what it cost banks.

• How AI, behavioural analytics, and unified case management platforms enable collaboration across functions.

• The regulatory signals from the FCA, MAS, and Fed that shape what’s possible for integration.

• A practical vision for future-ready financial crime units.