Customer Due Diligence and Crime Rings: It’s Time to Break the Chain
Featured Speakers :
Andrew is a member of the Nice Actimize Premier Solution Consultants team. As a member of Nice Actimize Andrew has worked to provide a cloud compliance solution to a variety of Banks, Credit Unions and FinTech’s. In a non-covid world Andrew can be found working on film, tv, and music video sets on the weekends in his hometown of Atlanta Georgia.
Mark is currently CEO of RegSmart (BeRegSmart.com) and Of Counsel with the Dallas law firm Russell & Wright PLLC (rwtrial.com) and holds the Certified Anti-Money Laundering Specialist (CAMS) certification (acams.org). Mark graduated from Baylor University in 1985 with a BBA in Finance (cum laude) and from the University of Texas Law School in 1988 (with honors). He practiced law in a private firm and then for the financial services subsidiary of the nation’s largest homebuilder. Mark served as general counsel for a multi-state title agent and a mortgage quality assurance company as well as associate general counsel for a top tier mortgage lender. He was a senior partner in NIA Consulting, the nation’s largest financial fraud auditing firm, and was instrumental in arranging the sale of NIA to Interthinx (a subsidiary of Verisk–NASDAQ: VRSK).
Complimentary webinar, presented by NICE Actimize
So you’ve onboarded a customer… now what?
Conventional fraud and AML tools notoriously generate a high number of false positives – often times over 95 percent. With digital account opening and banking here to stay, financial crime analysts face an unmanageable backlog of alerts. Even as analysts work harder, it’s still challenging to prevent fraud and money laundering activity, especially when it’s perpetrated by organized crime rings that know how to game systems.
Machine-learning technologies are one part of the solution. They enable fraud and AML teams to not only improve operational costs, but also give FIs the ability to improve the customer experience with fewer false positives and less friction. In turn, this allows staff to focus on detecting criminal activity rather than low-risk customers.
In this webinar, learn about best practices in improving customer due diligence and detecting crime rings using:
- How to improve transaction alert investigations and outcomes through unifying case management
- How to see the bigger picture between seemingly unconnected customers and businesses through human and AI-powered entity link analysis
- Benefits of centralizing data intelligence and the practical, tactical steps to make it happen