Tag: Anti-Money Laundering

Uncovering Hidden Patterns to Improve AML Detection

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Evolving money laundering patterns are leading to huge fines and mounting pressure on FIs to become more vigilant.…

Evolving money laundering patterns are leading to huge fines and mounting pressure on FIs to become more vigilant. Learn how unsupervised machine learning and its inherent merits can help FIs to uncover hidden money laundering patterns and improve AML detection.

Embracing AI & Machine Learning for AML

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Today's AML & Compliance leaders face dual challenges of increasingly sophisticated digital financial crimes and the…

Today's AML & Compliance leaders face dual challenges of increasingly sophisticated digital financial crimes and the threat of growing fines from regulators. Learn how AI and Machine Learning can help FIs detect more crime and better triage alerts.

Guest Post: AML Data Quality – The Challenge of Fitting a Square Peg into a Round Hole

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As mentioned in my previous articles, traditional rule-based transaction monitoring systems (TMS) have architectural…

As mentioned in my previous articles, traditional rule-based transaction monitoring systems (TMS) have architectural limitations which make them prone to false positives and false negatives: Naive rules create a plague of false positives that are expensive for investigators to sift through…

Guest Post: The Other Elephant in the Room: Defeating False Negatives in AML Systems

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False positives have a terrible reputation among anti-money laundering (AML) circles. As mentioned in my previous…

False positives have a terrible reputation among anti-money laundering (AML) circles. As mentioned in my previous article on  ending the false positive alerts plague, approximately 90-95 percent of alerts generated by Transaction Monitoring Systems (TMS) are false positives. So, why don’t we…

Guest Post: End the False Positive Alerts Plague in Anti-Money Laundering (AML) Systems

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Based on a report issued by PricewaterhouseCoopers (PwC), 90 to 95 percent of all alerts generated by transaction…

Based on a report issued by PricewaterhouseCoopers (PwC), 90 to 95 percent of all alerts generated by transaction monitoring systems (TMS) are false positives. Not only does this translate into operational overhead, it may also lead to missing real alerts hiding under the…