Regulations aimed at detecting and preventing fraud, money laundering, terrorist financing and financial crime have more than tripled in recent years.
Many banks have increased the size of compliance teams to meet these regulatory requirements.
Complex customer accounts, entities, ownership structures and transactions create layers of complexity. Set against significant financial penalties for non-compliance, potential reputational damage and individuals being held personally accountable financial institutions need to look towards implementing more robust anti-money laundering (AML) processes.
This datasheet outlines Bottomline’s AML Transaction Monitoring and Screening capabilities allowing banks to meet evolving regulatory compliance requirements, reduce the cost of achieving such and minimise the burden of false positives.
The risks across your payments lifecycle. Where are yours?
Watch our video to realize HOW many risks there are across the entire payments process, and the fact that these risks are all different and occur all across the payments lifecycle.
Award-winning Global Bank Combats Financial Fraud with Secure Payments Platform
Payment fraud has hit an all-time high with 78% of organizations experiencing attempted and/or actual payment fraud incidents in 2017. The risks of wire, card and check fraud have been known for years, but as the push for faster and more mobile payments is demanded by consumers, financial institutions are hard-pressed to thwart equally tech-savvy fraudsters.
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