Download this free training guide with best practices for establishing a risk-based AML/CFT compliance program.
This introductory guidebook for AML compliance provides best practices for integrating technology in your AML/CFT and fraud programs, including:
Ensuring the technology behind your AML/CFT program is used to its fullest capabilities is vital for maintaining a sound compliance program. Taking the first step toward automating your AML/CFT program can be daunting. Use this chapter as a checklist to gauge your program's preparedness to embrace new techology.
One of the best ways to address dynamic and emerging risks is to conduct above-the-line/below-the-line testing to ensure your software operates at its peak efficiency. Above-the-line/below-the-line testing is a statistical exercise that rigorously analyzes transaction monitoring parameters to identify the optimal settings for suspicious activity monitoring for your institution’s unique risk profile.
Cloud computing environments allow cloud service providers to segregate and serve multiple clients on a standard set of physical or virtual hardware. Three of the more common cloud service models have different levels of shared responsibilities between provider and client and are listed in this chapter.
Banks and credit unions handle sensitive financial data and transactions that affect millions of customers and businesses. They also face constant cyberattacks from hackers who seek to disrupt services or steal money or data. With the right training, banks and credit unions can reduce their own cyber risks and improve customer and member trust.
Artificial intelligence (AI) has become a global game-changer, offering innovative solutions and efficiencies that were once unimaginable. While AI provides tremendous benefits to financial institutions—streamlining operations, enhancing customer experiences, and bolstering security—it also presents new opportunities for criminals. This chapter explores some of the more common AI methods fraudsters use to prey on their victims and how AI can help combat fraud.
