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Behavioral Analytics Attack Fraud, Cyber and Financial Crime

FICO

FICO has honed its fraud detection technology to identify the needles in the haystack. In terms of compliance — particularly anti-money laundering (AML) and terrorism financing — the most prevalent transaction monitoring solutions used to identify illicit activity in these domains are extremely imprecise.

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AI Spotlight: FICO’s Machine Learning Facilitates AML

FICO

In their innocent incompetence to identify clear red flags about Madoff’s returns and file a Suspicious Activity Report (SAR), JP Morgan’s was fined $1.7 JP Morgan’s fine highlights the broader problem that many global banks had been facing, which was ignoring the warning signings of fraud and money laundering.

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FICO’s New AML Scores Use AI and Machine Learning to Detect More Money Laundering

FICO

Artificial intelligence (AI) and machine learning (ML) technologies have long been effective in fighting financial crime, used more than 30 years for fraud detection. Rules-based Systems Continue to Underperform.

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How AML Case Management Drives Efficiency in Financial Investigations

Seon

Read How It Works Defining an Efficient AML Case Management Solution An efficient AML case management solution combines real-time, direct-to-source data with advanced technological innovation, uniting AML and fraud detection and prevention within one platform – often under the FRAML moniker.

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Know Your Transaction: Why & How It Can Help You

Seon

Depending on each organization’s risk tolerance, this may be where parties associated with the suspicious transaction are subjected to further security checks or trigger a more comprehensive manual review by risk teams. Ask an Expert What Does KYT Mean for AML Compliance?

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AI’s impact on payments: NVIDIA’s vision for fraud prevention and customer engagement

The Payments Association

In this Q&A, NVIDIAs EMEA Payments & FinTech Leader, Georgios Kolovos, explains how AI is revolutionising fraud detection, risk management, and customer engagement in the payments industry. False positives in fraud detection remain a major challenge for payments companies.