Analysts and anti-money laundering (AML) investigators reviewing customer transactions have an important, but an often overwhelming job. Finance professionals tasked with alert resolution, performing periodic reviews on high-risk accounts and conducting investigations during a look-back transaction analysis, must consider myriad variables.
The rate of false positives remains an issue. As high as 99% plus in the view of some experts
Increasing budget constraints, deadlines, and volumes of information make it challenging for analysts to address all factors for each investigation. But failure to consider key factors could result in incomplete analyses, regulatory criticism, or other enforcement actions.
In the current regulatory landscape, financial institutions are facing a new wave of regulatory scrutiny with no signs of slowing down; in fact, the main focus recently has been on the effectiveness of the control mechanism together with front line awareness, even when no financial crime has actually taken place.
This workshop considers the challenges and the solutions available to ensure AML escalations are both effective, manageable and most important of all “get the job done” in a regulatorily compliant and effective way.