Artificial Intelligence (AI) is transforming AML/CFT & fraud programs by enhancing fraud detection, reducing false positives, and improving compliance efficiency. This guide explores how AI and machine learning (ML) help financial institutions automate workflows, analyze vast datasets, and strengthen BSA programs. While AI does not replace human oversight, it optimizes time and resources, allowing teams to focus on investigating suspicious activities. Additionally, transparent AI models, like those offered by Abrigo, provide clear justifications for alerts, ensuring institutions remain audit-ready and compliant.
Download this infographic to learn:
- How AI improves fraud detection by reducing false positives and enhancing accuracy.
- Ways AI lowers compliance costs while preventing financial crime losses.
- Why AI and human expertise together create a stronger AML/CFT program.
Banks and credit unions have vast amounts of data that could help them drive smarter lending decisions, but it’s often tough to identify the most useful data points and their achievable, practical uses.
This infographic shows lenders and their managers or Chief Lending Officers five examples of how financial institutions can leverage data to:
- Identify lending opportunities
- Improve loan pipeline management
- Optimize lending forecasting.
Download now to see how a data-driven approach can unlock efficiency and accelerate loan growth.
Additional resources:
Is your valuable data sitting untapped?
Financial institutions have huge amounts of data that can improve reporting and credit risk management. However, identifying which data is most useful and envisioning specific, practical uses can be overwhelming.
In this infographic, see the data seasoned banking experts use to:
- Communicate with the board
- Stay competitive
- Improve risk mitigation
- Confidently handle examiner questions
Download seven use cases along with tips to help put your bank or credit union on the path toward more data-driven decision-making.
Additional resources:
Discover the latest loan review salary trends and insights from Abrigo’s annual survey. This infographic highlights salary ranges and trends across experience levels, offering financial institutions the data needed to benchmark compensation and optimize budgeting for this critical risk management function. Learn how peers are adjusting salaries to stay competitive and attract top talent in the evolving financial landscape.
You might also like these:
Webinar: Understanding the latest loan review trends and best practices
Blog: Building the case for loan review automation
Looking for steps to implement FinCEN’s latest Notice of Proposed Rule Making (NPRM)? This downloadable infographic provides a concise guide for financial institutions on how to comply with for AML/CFT regulations. Designed to simplify compliance, this 6-step guide is an essential tool for compliance officers and financial institution managers.
Download to ensure your organization is fully prepared to meet FinCEN’s updated requirements.
Key Highlights:
- Understand the NPRM: A brief overview of the new AML/CFT rules proposed by FinCEN.
- Evaluate current compliance programs: Steps to evaluate existing AML/CFT programs to identify areas needing improvement.
- Update policies and procedures: Guidelines on revising policies to meet new regulatory requirements.
Wire fraud is a growing concern for financial institutions and their clients, and lead to serious impacts. The FBI IC3 reported a 10% increase of wire fraud complaints, representing a 22% increase in losses from 2022-2023. This infographic provides financial crime fighters with valuable best practices to prevent wire fraud.
Download the infographic to learn:
- The importance of educating clients on imposter scams, phishing, and social engineering.
- The customer or member benefits tied to wire transfer verification procedures.
- The need for implementing robust internal processes for communications and security.
In today’s fast-paced world, consumers want to send and receive money at the click of a button. According to a 2020 Federal Reserve survey, three in four businesses and two in three consumers think that their bank or credit union should offer faster payments.
Financial institutions can meet this demand by building and offering instant payment services using the FedNow Service. Still, widespread adoption of the service has been slow as conscientious bankers carefully consider what it will take to implement FedNow at their institutions. But where to begin?
This infographic will guide you through initial steps to take on your path to preparing for instant payments, including:
- Understanding FedNow’s features
- Assessing administrative and procedural needs
- Planning customization to suit your unique risk profile
Download this infographic to show your board of directors and leadership an outline of what it will take to prepare for FedNow at your institution.
Take a look at our additional resources:
Blog: FedNow fraud prevention for credit unions: A guide for AML, fraud teams
Whitepaper: Embracing FedNow: A guide for financial institutions
Fraud costs go beyond direct monetary losses alone. Fraud causes trickle-down impacts that affect your reputation, customers, and financial bottom line.
Download this infographic to learn more about:
- Sneaky fraud costs and their snowball effect
- Comprehensive strategies to combat fraud loss
- Tactics to fight fraud effectively
The last few years have challenged the banking industry with continued economic uncertainty, increased digitalization demands from the coronavirus pandemic, and increases in fraud. According to data from the Federal Trade Commission, consumers lost more than $8.8 billion to fraud in 2022, $3 billion more than in 2021 and a 166% increase from 2020. The FTC received fraud reports from 2.4 million consumers last year, and the most commonly reported types of fraud were imposter scams, online shopping scams, sweepstake/lottery scams, investment fraud such as pig-butchering scams, and business and job opportunity scams.
Now more than ever, it is important to make sure your bank or credit union is up to date on the latest trends, best practices, and ideas needed to ensure your institution is prepared to combat fraud.
Download this infographic for details on 5 examples of fraud typologies impacting your institution:
- Check fraud
- Cybercrime
- Pandemic relief fraud
- Wire fraud
- Card fraud
Compliance deadlines for the CFPB 1071 final rule are tiered, based on the number of covered credit transactions originated in each of 2022 and 2023. Knowing the 1071 rule deadline for your specific financial institution is the first step in preparing to collect and begin reporting small business loan data from applicants.
Use this timeline to learn:
- How each tier is defined for covered financial institutions
- Each tier’s deadline for beginning data collection
- When data generated by the CFPB 1071 rule needs to be reported, based on each tier
Check out other job aids, articles, and related resources for complying with the 1071 rule: