Tech-Based Enterprise Control and Audit for Financial Crimes: The Case of State-Owned Global Financial Predators (SOGFP)

Abstract

Due to the global financial and societal crisis, a societal or business transformation project is important. A well-designed financial services automation process is the need of the hour. This automation process depends on measurable critical success factors (CSF) which characterize the progress and evaluation of societal or organizational transformation processes. This chapter discussed in detail the concept of an applied tech-based enterprise control and audit for financial crimes (ECAFC) framework, which is significant for the detection of financial crimes. In the context of financial crimes analysis (FCA), a strategic vision is required for the integration of financial engineering related to risk and controls. This analysis is fundamental for the enterprise’s long-term business longevity and to avoid/combat state organized global financial predators (SOGFP). Moreover, the chapter also highlighted that the detection mechanisms are essential for the enterprise, in order to integrate the local and global economies in a sustainable, controlled, and iterative manner.