In 2024, financial institutions face mounting risk pressures from fraud, money laundering, and cybercrime amid economic volatility and rising regulatory demands. Risk leaders are advancing their strategies through automation, generative AI, and collaborative consortia. Trends include dual-use concerns of GenAI, its growing role in financial crime prevention, increasing regulatory scrutiny on identity, and rising adoption of passkeys. Firms are also adopting cyber-GRC tools, perpetual KYC systems, and real API security architectures. These innovations aim to protect institutions and streamline compliance across the expanding digital threat landscape.

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