For most of the financial crime compliance world, the past 18 months have been a long, strange trip, one marked by disruption and confusion, but also innovation and adaptation.
The same has been true for financial criminals – fraudsters and money launderers adapted quickly to the pandemic reality, and continue to profit from the shift to digital-first financial services.
As many countries around the world start to reopen and the pandemic moves to a new phase, what lessons were learned from financial crime during the Covid-19 era? What new strategies and attitudes must be employed by FIs to deal with financial crime in the digital transformation?
On this Financial CrimeCast, we explore this wide-ranging topic with Andrew Corbett, a member of the NICE Actimize Premier Solution Consultants team. Drawing on this work with banks, credit unions and fintechs to tackle a variety of fincrime challenges, Andrew shares some insights on combating fraud by capturing user behaviors, how contextualizing non-monetary risk is essential for proper customer due diligence, and much more.