Data Snacks, Keeping the bad guys out

Fraud and AML investigations are taking more time, but financial crime is getting faster

  • Money laundering in the US makes up 15% to 35% of all money laundering in the world.
  • Spending more time investigating financial crimes comes at a cost, yet most organizations are reporting increased timeframes. The criminals however are getting faster meanwhile.
Rabab Ahsan | June 08, 2023
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Fraud and AML investigations are taking more time, but financial crime is getting faster

 

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Artificial Intelligence, Keeping the bad guys out

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Enigma | November 29, 2023
Banking, Keeping the bad guys out

Banks having to monitor Politically Exposed Persons is the thirteenth Herculean labor

  • An integral part of a bank's KYC and AML work is focused on ensuring that Politically Exposed Persons (PEPs) cannot abuse the bank’s services for their own gain. Things slip through, though.
  • But oversight overeagerness on the part of FIs can create issues for those associated to PEPs as well as prevent the FI from focusing on genuine detection.
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Keeping the bad guys out

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  • More than one in three Americans admit to committing first-party financial fraud themselves.
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