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Switzerland Takes a Stand Against Fraud with Advanced Detection Techniques

Zurich, Switzerland - In an effort to prevent and detect fraud within the financial institutions of Switzerland, experts in the field gathered at KV Business School in Zurich for a chapter event hosted by Regulatory Developments and Digital Age. The event aimed to provide risk and compliance professionals with a deeper understanding of fraud dynamics in the banking industry and other financial sectors.

Event Highlights

• The evening began with an introduction by Jean-Pierre Colombara and Kathrin Anne Meier, followed by a keynote presentation by Olivier Maes, Executive Director at Forvis Mazars in Switzerland.
• Maes discussed how fraud risks have evolved in the banking sector over the past years, highlighting the importance of implementing an overall Fraud Risk Management Framework.

Expert Insights

Implementing a Strong Risk Culture

Stefan Rauch, Head of Compliance at VP Bank, shared his expertise on the importance of internal control systems in mitigating fraud risks. He emphasized that a strong risk culture and whistleblowing processes are essential components of any effective fraud management framework.

Advanced Fraud Detection Techniques

Florent Mourier, Executive Director at Forvis Mazars in Switzerland, presented on fraud detection and investigation techniques, providing real-world examples to illustrate his points. He stressed the importance of having a thorough understanding of financial transactions and being able to identify potential red flags.

Best-Practice Case Studies

Louis-David Magnien, Regional Managing Director and Head of EMEA at G3, wrapped up the evening with a presentation on other fraud case studies and best-in-class practices. He highlighted the need for financial institutions to stay ahead of the curve when it comes to fraud detection and prevention.

Conclusion

The event concluded with a question-and-answer session, during which attendees were able to engage with the speakers and share their own experiences and insights.

With its reputation as a hub for international finance, Switzerland is at the forefront of the fight against fraud. This chapter event provided a valuable opportunity for risk and compliance professionals to network and learn from one another, ultimately strengthening the country’s position in this regard.