FICO

MARCH 24, 2021

Financial Intelligence Units (FIUs) can play a critical role in producing sophisticated analysis on TBML schemes – including reporting entities (SAR/STR data). The graph below shows the trend of TBML-related SARs filed with FinCEN between 2014 and 2018. million SARs filed overall during the same period.

Money Laundering 98

Money Laundering SARS Fincen Financial Crimes 98

The Payments Association

JANUARY 29, 2025

Inadequate risk management and due diligence : Institutions faced challenges in ensuring effective customer risk profiling and due diligence, particularly for high-risk clients and correspondent banking relationships.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

FICO

FEBRUARY 15, 2017

Our new machine-learning techniques are directed specifically towards real-time, transaction-based KYC anomaly detection and highly refined self-learning models focused on anti-money laundering SAR (suspicious activity report) detection. The weights of the model are either expert-driven or based on limited SAR data.

AML 67

AML AI SARS Money Laundering 67

The Fintech Times

APRIL 29, 2024

Monitor your customers’ transactions and assess whether they match their KYC profile and initial risk assessment level at onboarding. One consequence is that banks, fintechs (and any other subject entities) end up submitting a lot of SARs for transactions and/or customers they know probably do not really pose problems.

Money Laundering 78

Money Laundering AML SARS Financial Crimes 78

PYMNTS

SEPTEMBER 30, 2018

1) that IdentityMind’s pioneering compliance, risk management and fraud prevention platform has integrated CipherTrace ’s digital currency risk assessment technology. If there is suspicious activity, the IdentityMind platform can pre-populate a suspicious activity report (SAR), IdentityMind Global said in the press release.

Suspicious Activity Report (SAR) 57

Suspicious Activity Report (SAR) Money Laundering Risk Assessment SARS 57

Finovate

MARCH 28, 2024

More specifically, DataVisor’s new AML solution provides: Comprehensive end-to-end functionality: including customer risk rating, CDD, EDD, sanction/watchlist screening, transaction monitoring, case management, and automated SAR filing. According to Crunchbase, DataVisor has raised more than $94 million in funding.

AML 59

AML Compliance AI Money Laundering 59

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. It mandates ongoing monitoring of suspicious activity, recordkeeping, and submitting suspicious activity reports (SARs) to the government.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88