Finance
Financial firms have a particular responsibility to limit and manage the risks of money laundering and terrorist financing. In this context, companies must have procedures and internal controls in place to ensure that employees do not abuse their position.
Financial firms are therefore required by the Anti-Money Laundering Act to have written policies, business procedures and controls, which must include, among other things, screening employees.
The Money Laundering Act imposes requirements on persons and companies engaged in business activities at risk of their activities being misused to launder money or finance terrorism.
Paragraphs 8 of the Act require screening of employees, which means, among other things, that an undertaking ensures that, before hiring a person, that he has not been convicted of a criminal offence justifying an imminent danger of abuse of that person's position, and ensuring that the company becomes aware of employees who are convicted of such a relationship during the course of their employment. A risk assessment should be established according to the function of an employee in the company.
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The DORA Regulation Digital operational resilience in the financial sector requires financial firms to maintain the same high level of organisational security as critical entities.
In addition, there are already many areas in the Executive Order (Ordinance on the Management and Governance of Financial Institutions, etc.) where expanded background checks can improve the requirements for reassuring safeguards.
“We had a person who had been looking for a leadership position, and who we were fascinated by, and was actually ready to offer employment for a salary something beyond the budget. With the help of P-Secure, we found out that incorrect information had been given in relation to the CV. The applicant was confronted with it and professed suit. We have now moved on with another candidate.”
Director | HR & Security, Nokas
Below you will find articles describing the threats that exist in the financial sector.
Below you can find helpful resources to help you and your business on the road to greater security.
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