Fraud and Financial Crime Management
Gain unparalleled protection from internal fraud and external financial crime. Meet compliance and regulations without complexity.
Solution deep in risk and compliance expertise
Enterprise wide alert and case management of fraud
Streamlined solution with minimal implementation
Increase detection while decreasing complexity
Today, only 1% of illegal assets are frozen or seized by authorities each year.
A growing regulatory landscape means facing a rising wave of regulations each with its own sanctions, penalties and rulebooks. Banks are challenged to reduce costs while managing the operational and technical burden of rapidly changing rules and regulations.
Monitoring, detecting and reporting money laundering can be costly, complicated, lacking in adequate detail or prone to omission. There can be a complex web of transactions on top of hidden and layered risks, that requires profiling to spot signs of suspicious activity.
Sanctions screening enables you to confidently filter transactions against global/domestic sanctions and bank watch lists to ensure compliance and take appropriate blocking action.
Stay ahead of regulations and protocols through simple and intuitive technology infused with deep risk and compliance expertise
Increase operational efficiency by reducing user interactions
Utilize advanced analytics including machine learning and behavioral and peer profiling
Rapidly deploy a simple and streamlined solution without a lot of implementation requirements
New Payment Services: Financial Fraud Prevention Measures
The first 3 parts of this 5 part series focused on payment innovation, the difference between Open Banking vs. PSD2 and new banking and payment services resulting from the recent regulatory requirement entrants. This 4th part explores financial fraud prevention measures and how to leverage technology advancements to secure payments in this new payment landscape.
Visit our partners at Smart Payments to read the full article.
Open Banking and PSD2 are already having a major influence on the banking and payments industry, not just in the UK and Europe, but around the world. The purpose of this white paper is to offer banks/payment service providers guidance on what they need to do in order to respond to the opportunities and threats presented by new regulations such as Open Banking and PSD2.
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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