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I welcome everyone to the maiden edition of GRC and Financial 
Crime today- your number one magazine on Governance, Risk, Compliance and Financial Crime information in the financial services industry and other sectors published 3 times a year. 
Financial crime has been a 
pertinent issue in the global arena for a long time now. It does not matter what kind of economy you are operating in, authorities are constantly looking for new ways to track down and prevent financial crime, and criminals are always developing innovative tactics and developing new systems and controls in order to stay ahead of the authorities. 
When we talk of Governance, Risk and Compliance, or GRC for short, this refers to a company's coordinated strategy for managing the broad issues of corporate governance, enterprise risk management (ERM) and corporate compliance with regard to regulatory requirements. 
Governance: Ensuring that organizational activities, like managing IT operations, are aligned in a way that supports the organization's business goals. 
Risk: Making sure that any risk (or opportunity) associated with organizational activities is identified and addressed in a way that supports the organization's business goals. 
Compliance: Making sure that organizational activities are operated in a way that meets the laws and regulations impacting those systems. 
If you are involved in the finance or business sectors, it is critical that you understand what financial crime is and how it works and how it is linked with Governance, Risk and Compliance, or GRC 
These crimes are almost always committed for the personal benefit of the criminal, and they involve an illegal conversion of ownership of the property that is involved. Financial crimes can occur in many different forms, and they happen all over the world. 
It is very important for companies or firms to not only consider the regulations and rules, but also the risks pertinent to the business in the development of effective but proportionate compliance controls which are applied sensibly to the business rather than with a heavy hand. A good risk based documented compliance monitoring programme, supported by investment
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