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Working the output of financial crime monitoring can be a thankless task, especially if your system isn’t tailored to your business. I’ve been there and I’ve got the grey hair to prove it.   Financial crime experts around the world are currently ploughing through thousands of hours of false positive alerts. This may be the result…

There has been a lot of change in financial crime over the past 10 years, but one thing that’s remained constant is the problem of too many false positives. The nature of the beast is that there will always be false positives. Separating money laundering from normal behaviour is a difficult task. If your transaction…

Fraud is on the increase. PwC’s latest Global Economic Crime and Fraud Survey reveals that 51% of surveyed organisations experienced fraud in the past two years, the highest level in 20 years of research.  The report identified that 44% of fraud experienced by the Financial Services sector was customer fraud, 38% Cybercime and  29% know…

Data quality is a critical aspect of any effective AML programme. In the ever-evolving landscape of financial crime, ensuring the accuracy, completeness, and reliability of data is paramount for successfully combating money laundering. However, the state of play in relation to AML data is far from perfect. Many organisations still struggle with data issues, hindering…

For some businesses, implementing automated AML software for the first time can be a daunting task. However, it doesn’t have to be overwhelming if you approach it step-by-step. Automate your transaction monitoring one step at a time If you want to run an efficient and effective AML programme, transitioning to an automated system is a…