FICO

FEBRUARY 13, 2017

One of the places where AI can make a huge difference today is in anti-money laundering (AML). As regulations become ever more demanding, the rules-based systems grow more and more complex with hundreds of rules driving know your customer (KYC) activity and Suspicious Activity Report (SAR) filing.

Money Laundering 74

Money Laundering AML AI Suspicious Activity Report (SAR) 74

The Payments Association

APRIL 23, 2025

To address the money mule problem, organisations must combine elements of fraud prevention, cyber threat intelligence, and anti-money laundering capabilities. It takes AML teams weeks (if not months) of diligent analysis to escalate these activities to law enforcement. Yet, money mules arent just a fraud or cyber problem.

AML 88

AML Suspicious Activity Report (SAR) Addressing Fraud Prevention 88

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. A report found that the U.S. imposed a full $23.52 billion and the Middle East levied $9.5

Suspicious Activity Report (SAR) 75

Suspicious Activity Report (SAR) FinTech Money Laundering AML 75

FICO

JANUARY 8, 2018

One of the newer applications of artificial intelligence rose to the top of the Fraud & Security blog last year: anti-money laundering. AI Meets AML: How Smart Analytics Fight Money Laundering. Readers were also keenly interested in learning more about cybersecurity and ATM compromise trends. Read the full post.

AML 53

AML Posting AI Suspicious Activity Report (SAR) 53

Seon

SEPTEMBER 23, 2024

With the rise of online transactions and real-time payments, the risk of fraudulent activity has surged, putting financial institutions and businesses in a constant battle to protect their customers and themselves. Compliance with anti-money laundering (AML) regulations is now a legal obligation.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML 52

FICO

JUNE 12, 2020

Stopping financial crime in Australia is an age-old problem, but today’s criminals have become so sophisticated that long-standing anti-money laundering (AML) systems and processes are no longer keeping up. Much more needs to be done to modernise efforts for fighting such criminal activity. 1) Compliance Culture vs Cost Centre.

Financial Crimes 52

Financial Crimes Crime Money Laundering AML 52

Seon

JUNE 29, 2023

That means money laundering can account for anywhere between $800 billion and $2 trillion annually. Thankfully, much of the answer to this corrupt financial activity boils down to organizations ensuring that they carry out an anti-money laundering process called Know Your Transaction (KYT). Why Is KYT Important?

Transactions 52

Transactions Due Diligence Money Laundering AML 52