With previous roles such as Head of AML, EMEA, for Citi's Trade and Treasury Solutions, Head of Financial Crime at ComplyAdvantage, and Global Risk and Control Manager at BBVA, Livia has worked to redesign the due diligence and ongoing monitoring process for correspondent banking, money service businesses and diplomatic missions.
The financial services industry is the favorite target of fraudsters for obvious reasons. This affects everyone, from customers to businesses to vendors, but banks bear the ultimate responsibility. Bank security is a byword, but banks are being attacked constantly, and a surprising number are successful. Central banks and governments face near-constant attacks. Treasury Secretary Steve Mnuchin said earlier this year that the Internal Revenue Service in the U.S. faces millions of attacks per day. In 2016, fraudsters were successful in stealing more than $100 million from the Federal Reserve Bank of New York, which was holding funds for the central bank of Bangladesh. The move to real-time settlement of payments makes this risk even more pressing.