As cash transactions are increasingly being rejected due to fear of COVID-19 particles “living” on the notes, more purchases are being done online.
This shift in consumer behaviour means that criminals can find new inventive ways to commit fraud/scams, which adds an extra layer of complexity to the jobs of compliance officers. This makes it harder for compliance officers to separate legitimate online transactions to fraudulent transactions.
This is one of many ways COVID-19 has changed compliance.
You can read more about it here: https://complyadvantage.com/blog/how-covid-19-changed-course-compliance/
I’d be interested to hear what you all think about this - how else has COVID-19 changed compliance?