أساس مكافحة المخاطر هو توفر بيانات موثوقة ومدارة ودقيقة وآمنة

Summary

In this interview, the founder of Cedar Rose discusses the origins of his company, which specializes in financial risk solutions, and the importance of data accuracy and security in combating financial crimes. He highlights the misconception that such crimes are limited to financial institutions, emphasizing that they can involve human trafficking and modern slavery. The interviewee stresses the need for individuals and businesses to perform thorough background checks and be aware of their supply chain to avoid unwitting involvement in illegal activities.

Takeaways

• 🚩 Financial crimes are not limited to financial institutions but include any illegal activities that generate illegal financial gain, such as human trafficking and modern slavery.
• 🌟 The founder of Cedar Rose was drawn into the industry of financial crime investigation by chance, but had a subconscious desire to fight for humanity and a good cause.
• 🏢 Cedar Rose started as a company providing credit reports and grew into investigating the source of funds and wealth for companies and individuals.
• 🌐 The name 'Cedar Rose' symbolizes the union of the founder's Lebanese and English heritage, representing trust and personal commitment.
• 🔍 Cedar Rose focuses on gathering information from ultimate sources, ensuring data is legally and ethically obtained with unique identifiers for thorough research.
• 💼 The company's platform allows clients to search for companies and individuals to assess their operations, financial stability, and compliance with regulations.
• 🔒 Data management is crucial in fighting financial crime, and Cedar Rose emphasizes the importance of data privacy, accuracy, and security.
• 🛡️ Cedar Rose adheres to data protection regulations like GDPR and has achieved ISO 27001 certification to ensure the highest standards of data security.
• 👥 Individuals can fight financial crime by being aware of who they are doing business with and conducting background checks before transactions.
• 🌐 Supply risk is a growing concern, and companies must be aware of their entire supply chain, not just their direct clients and subsidiaries.
• 💡 The interview concludes with a call to action for everyone to be vigilant against financial crimes and to educate themselves on the risks involved.

Q & A

What is the scope of financial crimes according to the transcript?

Financial crimes are not limited to financial institutions but include any illegal activity that generates illegal financial gain, such as trafficking, modern slavery, and more.

How did the founder of Cedar Rose get into the industry of financial investigations?

The founder co-founded a company in 1997 that provided credit reports and later started receiving inquiries to investigate companies and individuals' sources of funds and wealth, which led to the establishment of Cedar Rose.

What is the significance behind the name 'Cedar Rose'?

Cedar represents the founder's birth country Lebanon, and Rose represents England, where his wife is from. The name symbolizes the union of the founder and his wife.

What services does Cedar Rose provide through its platform?

Cedar Rose offers a platform where clients can search for companies and individuals to find out about their ownership, operations, financial stability, compliance, and any adverse information.

Why is data accuracy and management important in fighting financial crimes?

Data accuracy and management are crucial because they form the core of investigations and regulatory compliance. Ensuring data is accurate, up-to-date, clean, and secure is vital for trust and effective risk management.

How does Cedar Rose ensure the security and privacy of the data it handles?

Cedar Rose adheres to data protection regulations like GDPR, undergoes ISO 27001 certification audits, and invests in technology and security to ensure the best practices in data handling, collection, transmission, and access.

What is the challenge faced by institutions when adopting technology solutions to fight financial crimes?

The challenge is balancing the need for technology solutions to enhance risk management with the risk of exposing themselves to cybersecurity threats.

What role can individuals play in fighting financial crimes?

Individuals can fight financial crimes by being aware of who they are doing business with, conducting background checks, and not being deceived by appearances of wealth or status.

Why is supply risk important in the context of financial crimes?

Supply risk is important because it involves being aware of not just direct clients but also the entire supply chain, ensuring compliance and avoiding association with illegal activities.

How does Cedar Rose address supply risk?

Cedar Rose addresses supply risk by providing solutions that help clients assess and manage the risks associated with their suppliers and the broader supply chain.

What advice does the founder of Cedar Rose have for people to avoid being associated with financial crimes unknowingly?

The founder advises people to look beyond appearances and conduct thorough checks on the background of individuals or companies they are transacting with to avoid unknowingly financing illegal activities.