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FinCEN Files Show Banks’ ‘Whack-a-Mole’ Battle Against KYC/AML

PYMNTS

And in one recent edition of PYMNTS’ KYC/AML Tracker details, the rise of open banking is likely to spur a “fast track” for new AML efforts, including multifactor authentication (MFA) and strong customer authentication (SCA) processes. percent of FIs believe AI is an effective tool for stopping fraud before it happens.

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