Herald - Issue 411

26th August 2021 • The HERALD • Page 53 v SEND ALL YOUR NEWS TO THE HERALD v Tel: 023 8254 7600 TMT House, 12 The Marsh, Hythe, Southampton, SO45 6AL enquiry@tmtlegalservices.co.uk www.tmtlegalservices.co.uk Your Local Legal Specialists WILLS & PROBATE ONLINE AND PHONE CONSULTATIONS AVAILABLE Call the Team on 023 8254 7600 or visit our website for our online quotation tool where you can also instruct us Sanders Design S E R V I C E S L T D BUILDING PLANS AND DETAILED DRAWING SERVICE Complete professional service for extensions, conversions, new houses and commercial projects • Computer Aided Design Drawings • Free Initial Visit and Quotation 95 Cedar Road, Hythe, Southampton SO45 3PX Tel: 023 8020 7195 Email: info@sandersdesignservices.co.uk Web: www.sandersdesignservices.co.uk ASK A PROFESSIONAL found that this technology usage does not necessarily improve efficiency. In fact, organisations that use automated systems spend more time reviewing alerts – for every 1,000 customer relationships, they will spend around an additional 49 hours per week monitoring transact ions and reviewing screening alerts compared to firms that don’t utilise automation. The statistics tell us that because technology generates more alerts and highlights more potential risks, it also requires more time on follow- up investigatory work, but exactly how much is created is dependent on whether firms have correctly calibrated their systems. There is the real danger that poorly aligned alert systems simply create a cottage industry within a firm,” said Jacobs. Bev Robertson, Chief Operating Officer of Associat ion of Professional C o m p l i a n c e Consultants, added: “This research provides a great snapshot into the deployment and engagement of firms. It not only highlights the costs and resources involved, but also looks at the challenges of balancing elements such as the use of technology versus manual screening in identifying and subsequently reporting on suspected financial crime – it highlights the variances across sectors and indeed around the global world of financial services. It also provides some thought-provoking ‘not to be ignored’ takeaways that firms should definitely be considering when evaluating their own financial crime prevention programs.” UK Financial Institutions Spend an Average of £374K Each Year on Preventing Financial Crime Continued from page 52 Businesses Make a Difference Many businesses have found a great way to put something back into their communities by supporting their local Rotary Club. They can give this support in several ways, including sharing their expertise or resources, offering to help with or sponsor local events, or making an annual donation to cover some of the overheads incurred with local fundraising. Hythe & Waterside Rotary Club play a vital part in the local community supporting good causes including charities and schools. is is enhanced by having Business Partners who can be relied upon to lend a helping hand from time to time. ere are so many ways you can support Hythe & Waterside Rotary Club, even if your spare time is limited. If you would like to know more, please email the club secretary at: secretary@hytherotary.org.uk