Companies must undertake a range of formal compliance procedures in relation to customers, third-party vendors, suppliers or partner relationships, he says

Thomson Reuters  |  Financial Crimes In Indian Companies

A first-time survey of Thomson Reuters around 2,300 senior managers from large organisations around 19 countries finds that corporate India does not fare well when it comes to assessing the impact financial crimes on their business.

Anurag Jain, head of Thomson Reuters Risk Business in India, tells Sudipto Dey why Indian businesses need to go beyond their ‘tick-the-box approach’ in meeting regulatory compliances. Edited excerpts: What was the key trigger for a survey on the cost of financial crimes? The scale of financial crimes and the toll that it takes on businesses, …

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