In today's 24-7 global business economy, financial institutions must find and stop fraudulent transactions and compliance breaches the moment they happen, not hours or days later. Bottomline's Cyber Fraud & Risk Management platform is designed to help you stop fraud, misdirected payments, and other criminal offenses before money goes out the door. With non-invasive monitoring and data captured directly from your network, cross channel analytics, sanction screening, and real-time alerting, Bottomline's CFRM solution helps you quickly and confidently detect internal and external threats, prevent fraud, and ensure compliance.
Available as a standalone solution or fully integrated with Bottomline's Digital Banking and Payments solutions.
Financial institutions must find and stop fraudulent transactions and compliance breaches.
White PaperAML Systems and Controls: Friend and Foe
Financial crime compliance has witnessed a boom in recent years. The Anti-Money Laundering (AML) software industry is estimated to grow to $3.4 billion by 2027 (Ref: Reuters). But this is a drop in the ocean compared to the cost of non-compliance. Banks have been fined more than $320 billion due to market abuse since the financial crisis of 2008 (Ref: Bloomberg). It is estimated that financial crime is costing the global economy $3-5 trillion dollars per annum but only 1% of illegal gains are frozen or seized by the authorities (Ref: UNODC).
VideoCFRM Momentum Video
No financial institution or corporation, regardless of their industry, wants to be a part of a fraud headline, or fall foul of regulations, but staying ahead of opportunistic fraudsters, emerging AML threats and increasing compliance demands seems like a continuous crusade.
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