Fivecast’s Post

What are the advantages of FRAML? How can financial institutions benefit from using one integrated solution for fraud and AML?  The short answer: FRAML allows financial institutions to detect more crime, more quickly, while streamlining investigations. In this article, Robin Lee 李显龙, General Manager, APAC at HAWK:AI, has outlined five reasons why you should consider a FRAML approach: - Enhanced compliance and risk management  - Improved detection of financial crimes  - Cost efficiency  - Enhanced customer experience  - Adaptability to emerging threats Learn more in his full article here: https://lnkd.in/dtqGPEsZ Alternatively, request a demo to see how HAWK:AI can help your organization to realize the benefits of FRAML. Visit https://hawk.ai/ #fincrime #aml #framl #fraud #ai #artificialintelligence #financialinstitutions 

In the dynamic landscape of financial services, the value of a risk-based approach to transaction monitoring cannot be overstated. The old traditional one-size-fits-all methods fall short in detecting sophisticated money laundering activities. ComplyRadar has tailored monitoring efforts to automatically focus on higher-risk transactions and customers, through intelligent rules and artificial intelligence. Our Solution provides an ongoing, linear risk score for individuals and organisation based on their activity and trends, now our customers can efficiently allocate resources while improving accuracy in detecting true positives. This approach has improved efficiencies when identifying suspicious behaviour, reducing false positives, and fostering a better compliance with AML regulations. Embracing a risk-based approach empowers institutions to stay ahead of evolving threats, safeguard their reputation, and protect the integrity of the financial system. Proactive risk management has become a critical pillar in the fight against financial crime. Get in touch with us today to learn more about our solution and how our risk scoring module can add value to your business. #AML #transactionmonitoring #financialcrime #riskmanagement

What are the building blocks of entity-centric Anti-Money Laundering (AML)? Download this infographic to learn how you can gain a more accurate and contextual understanding of customer risk with entity-centric AML. Know your customers. Empower your employees. Protect your organizations. Get the infographic here: https://okt.to/5hZjqi #FinTech #Risk #AML #Infographic

Red Flag Tests from AML Analytics is a ground-breaking solution designed to carry out a transaction monitoring system health check using Smart Scenarios consisting of synthesised transaction data to validate system performance. The solution has been created using the knowledge and understanding of patterns that emerge from the analysis of criminal transactional activity. Red Flag Tests: ❗️uncovers transactional patterns consistent with money laundering typologies. ❗️identifies vulnerabilities in a transaction monitoring system’s alerting capability. ❗️validates the performance of a system and the rules in place at the click of a button. ❗️is an advanced RegTech approach to TM system improvement that removes the need for expensive consultancy work. For more information about Red Flag Tests, visit out website: #MoneyLaundering #Innovation #RegTech #AML #Risk

🚨Device Intelligence: Verifying Beyond KYC Stay one step ahead of fraudsters with device intelligence! 💡👀📲Verify not only user information with KYC methods, but also the device itself to detect any unusual behavior. #fraudexplained #deviceintelligence #kyc #devicefingerprinting #fraud #scam #mobileappsecurity #fraudsters #risk #riskintelligence

AML/KYC Tech Alert 📣: Did you know you might be missing essential details in your customer or transaction risk evaluations? My colleagues have conducted a thorough graph analysis and compiled their findings into a paper. If you're keen, let me know!

📢 Our team has been hard at work to enhance the way ongoing monitoring is consumed. With these upgrades, you can now get a quick and insightful snapshot of your AML performance, all at your fingertips: 🔍 Check the number of searches conducted to stay on top of your due diligence efforts. 🚨 Monitor the status of alerts to track suspicious activities effectively. But that's not all! The new features also offer flexibility like never before: 📅 Configure the monitoring graph based on your preferred time frame, re-screening frequency, risk groups, and more. #AntiMoneyLaundering | #AML | #CustomerMonitoring

Join us at the world’s leading event for financial crime prevention professionals. Our team is ready to showcase how Matrix is revolutionizing the fight against financial crime with cutting-edge solutions. 🔍 At Matrix we understand the complexities and challenges that financial institutions face in today’s regulatory environment. That’s why we provide comprehensive services that ensure robust compliance and effective risk management. 💼 What We Offer: -Advanced AML Solutions: Our Anti-Money Laundering (AML) technology leverages AI and machine learning to detect suspicious activities and ensure regulatory compliance. -Fraud Detection & Prevention: Stay one step ahead of fraudsters with our real-time, data-driven fraud detection systems. -Regulatory Compliance Services: Our expert team helps institutions navigate complex regulatory requirements, ensuring full compliance and minimizing risk. -Data Analytics & Reporting: Turn data into actionable insights with our advanced analytics tools, enhancing decision-making and operational efficiency. 🤝 ACAMS provides a unique platform for networking and learning from industry leaders. We’re excited to engage with fellow professionals, share our expertise, and learn about the latest trends and technologies shaping the future of financial crime prevention. Speak with our experts about how Matrix can help your organization stay ahead in the ever-evolving landscape of financial crime compliance. Let’s connect at ACAMS and work together to build a safer financial world! 🌐 #ACAMS2024 #FinancialCrimePrevention #AML #FraudPrevention #Compliance #RiskManagement #Matrix #FinTech #RegTech #Innovation

Find out how Thomson Reuters Risk & Fraud Solutions can help reduce your AML Risk. 5 steps to mitigating money laundering risk Money laundering and other financial crimes continue to mushroom at an alarming rate. As the risks increase, more organizations are turning to Thomson Reuters CLEAR to simplify analysis and monitoring. Here’s how CLEAR helps at every step in the customer lifecycle. https://lnkd.in/eV8Bq32c

Delighted to share insights on developing an effective and resilient AML-CFT program! In today's dynamic regulatory landscape, financial institutions must stay one step ahead in combating money laundering and terrorist financing. Here are a few key principles that have helped us strengthen our AML-CFT program: ■ Risk-Based Approach (RBA): tailor most of your efforts on highest risk AML aspects and make them a priority for the organization’s compliance controls, policies and procedures while not ignoring low-risk aspects. ■ Robust Technology: Invest in cutting-edge technology and analytics to detect suspicious activities more efficiently. Automation can be a game-changer. ■ Strong Compliance Culture: Foster a culture of compliance from the top down. Ensure that all employees are aware of their AML-CFT responsibilities. ■ Ongoing Training: Keep your team well-informed with regular training sessions. Knowledge is your most powerful weapon against financial crime. ■ Collaboration: Forge partnerships with industry peers, regulatory bodies, and law enforcement agencies. Sharing information can lead to more effective prevention. ■ Adaptability: Be ready to adapt to new threats and regulations. Flexibility is key to staying resilient. 💡 Key Takeaway:   Developing an effective and resilient AML-CFT program is an ongoing journey and requires dedicated and continuous improvement. It's a commitment to ethical business practices, regulatory obligations, and safeguarding our financial systems. Let's keep the conversation going on how we can strengthen our AML-CFT programs and protect our financial ecosystem. #AML #CFT #FinancialIntegrity #Compliance #Resilience #AntiMoneyLaundering #FinancialCrime #Finance