Economic uncertainty has created a perfect storm for an increase in financial crimes. For organizations that are still performing AML/KYC compliance checks without assistance from artificial intelligence (AI), the time has come to rethink that unsustainable approach. Financial criminals have long been using AI to attack financial networks, and until institutions started using the same technology to fight back, they will always be playing catch up.
If your organization hasn’t adopted AI tools to reduce your risk exposure, you’re missing an opportunity to thwart financial crime.
During this conversation with Jeff Bell, COO of Eventus Systems and Vamsi Koduru, former Director Identity Analytics at Babel Street, attendees learned:
- How financial criminals are using advanced automation to commit fraud, and how AI can help you keep up
- How rapid geopolitical changes make it difficult for rules-based systems to add names without significant lag time, and how AI requires no time to adapt to complex new names
- How AI can help match people with digital aliases to ensure transactions only occur with known entities
- How AI is no longer as daunting or difficult to utilize as it has been in the past and how much easier it is to implement and configure AI solutions to your needs
- How AI solutions can free up human resources for value-added functions and eliminate redundant and error prone manual work from their workflow