FS Vector’s Post

Why has Airbase gone Full Sardine? Because fraud and AML use the same data. Nayeem Mano - BBA, MBA explains why having fraud, transaction monitoring and case management together makes sense below 👇 #fraud #data #aml #transaction monitoring

Why has Airbase gone Full Sardine? Because fraud and AML use the same data. Nayeem Mano - BBA, MBA explains why having fraud, transaction monitoring and case management together makes sense below 👇 #fraud #data #aml #transaction monitoring

We’ve done it again! Congrats to everyone on team Alessa for designing an AML and fraud prevention solution that continues to be innovative and disruptive in the RegTech industry.     To learn more about Alessa visit www.alessa.com     #Regtech100 #RegTech #AML

The answer to Thursday’s Trivia Question, “Which of the following is a key component of an AML program?” was...🥁 Answer: B) Customer due diligence (CDD) Good Job to everyone who participated in last week's trivia question! 🎉 #ACAMSNV #amlcompliance #thursdaytrivia

Empower your business against AML and Fraud risks with ComplyRadar's advanced transaction monitoring. Stay secure, stay compliant! #ComplyRadar #AML #fraudprevention #empoweryourbusiness

In 2023 we were inspired by how many great conversations we had with partners, customers, and industry leaders about the state of fraud and AML. 🗣️ The topics ranged from fraud prevention on new payment rails, to compliance strategies, and everything in between! What were the top 3 FinCrime topics, according to most viewed? 🤫 The Secrets of Fraud Prevention: 23 Expert Insights Revealed: https://hubs.li/Q02dH9Wc0 🔎 Customer Spotlight - How Gusto Streamlines AML Compliance Operations: https://hubs.li/Q02dHbnG0 🧠 FedNow in 15 Minutes: Everything you need to Know: https://hubs.li/Q02dHbMZ0 ICYMI catch the replays of these sessions now! 🍿 #FraudFighters #ComplianceHeroes #Unit21

All set for the ACAMS 15th Annual Conference tomorrow in Taiwan! Looking forward to discussing the latest AML and fraud trends in the industry. See you tomorrow #ACAMS # Taiwan

💰🧺 AML Red 🚩 Flag Indicators Red Flag Indicators 🚩 are exactly that. They are indicators or common warning signs that on their own may not give rise to a reason to investigate, but with the right context and maybe other indicators may be more useful. Red Flag Indicators can be used throughout the end-to-end AML/ CTF value chain. The most common that most people are familiar with is spotting potential ML/ TF events in: 🚩 Transaction monitoring 🚩 Know Your Customer (KYC)/ Customer Due Diligence (CDD) procedures 🚩 Enhanced Customer Due Diligence (ECDD) 🚩 Ongoing Customer Due Diligence (OCDD) 🚩 Employee Due Diligence (EDD) 🚩 Where there is ML/ TF risk is likely to be identified in customer behaviour and or account activity Then there are further places you may use red flags (maybe less regularly) 🚩 Risk Assessment 🚩 Training & Awareness 🚩 Independent AML/ CTF Program Review (or assurance, QA, testing, etc) 🚩 A function of all the above - Regulatory Compliance The Australian 🇦🇺 Regulator #AUSTRAC used to produce a typology report that is still valid (but needs updating!). From their last paper, they listed 87 red flag indicators (see link in the comments below) - It is worth a read As stated above red flag indicators aren’t useful on their own, they need to be incorporated into a program that includes policies, procedures, training, technology, and human expertise On their own and without context correlations and patterns aren’t strong, and false positives can be generated - this is where analysis helps Whilst red flag indicators are crucial for identifying suspicious activities, they must be integrated into a broader, context-aware, and dynamic AML strategy to be truly effective How do you use red flag indicators? Comment below 👇🏼 👇🏼  #financialcrime #kyc #cdd #transactionmonitoring #aml #amlcft

We're at that time of the year... where we ask all Fraud Fighters and Compliance Heroes to help produce the Annual State of Fraud and AML report 💪 Every year at Unit21 we ask risk and compliance folks what problems they are facing. Based on what we hear, we compile an in-depth survey that dives into the challenges of the industry and its direction for the next 12 months. It's a great way to see where you are at with respect to your peers. This year's survey aims to answer questions like: ✅ On average, how long it takes your team to file a SAR? ✅ What are annual losses related to scams? ✅ Which fraud attack costs the most money?  ✅ What is the fastest-growing fraud problem you are seeing? ✅ What offering is missing from your Core provider? The survey only takes 6 minutes to complete! 📣 Contribute to this survey and share your voice to this annual report that is distributed to thousands every year 👋 Link of survey: https://lnkd.in/g_YZXA2S #fraud #antimoneylaundering #compliance #risk #fraudfighters

What are the main challenges when it comes to collaboration between fraud and AML teams? See what James Nurse, managing director of FINTRAIL has to say on the matter ⬇️ You can further explore the critical synergy between fraud and AML in this insightful discussion hosted by SEON and FINTRAIL: https://lnkd.in/d8-k94gc