Adopting a risk-based approach to AML & financial crime management

January 21, 1:00 pm EST

The Coronavirus pandemic and its consequences have provided Asia Pacific’s banks’ anti-money laundering (AML) and financial crime teams with a particular challenge, adding to the existing mesh of cyber-crime risks, trade tensions and pressures of regulatory scrutiny.

For financial criminals, the suddenly-changing environment of the pandemic has created new conditions they can exploit in their unending efforts to carry out scams and frauds, and wash the proceeds of criminal enterprise within the financial system.

Set against this context, taking a risk-based approach to fighting financial crime provides certain advantages in its agility and flexibility. Banks are increasingly thinking beyond tick-box compliance exercises, in part as a result of regulatory pressure, and the promise of efficiency savings if they begin to unlock the potential of technologies such as AI and machine learning.

Co-authored by NICE Actimize and Risk.Netread the article to understand how financial institutions, in the Asia Pacific region, are grappling with fast-changing risks and digital transformation in their efforts against money launderers and financial criminals.

Gain exclusive insights on:

  • The key factors to consider when implementing a more active risk-based approach to financial crime management?
  • How digital transformation offers the potential to increase both the effectiveness and the efficiency of processes for countering financial crime.
  • Unlocking the potential of technologies such as AI and machine learning.
  • The different strategies adopted between fraud and AML.


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