Impaired information flows
“You have to be adaptable and open to adjustments”, said Simonetta Sommaruga, President of the Swiss Confederation, on August 12, 2020 at the press conference held by the Federal Council [1]. This not only applies to combating the COVID-19 pandemic, but also to combating money laundering. We’ve identified a few issues with the false report about an alleged coronavirus death [2] which are also relevant for compliance.
Lessons learned, for Compliance too
Frequent causes of impaired information flows:
- No effective monitoring mechanisms
- Organizational boundaries hinder information flows
- Responsibilities are unclear
- An incomplete view of the situation; no-one has an end-to-end view of the entire process
- Forms that can be filled out incorrectly and lead to incorrect data.
Links
[1] https://youtu.be/xeVhJDxWL7w (03:33)
[2] Chronik eines vermeintlichen Todesfalls.
Tages-Anzeiger, 17.08.2020.
