Learning from Fraud Detection: Segmenting AML to Fight Financial Crime

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Presented by

Brendan Brothers

About this talk

Why do we think about AML as a single idea, when fraud is segmented specifically by customer, channel or loss type? In this insightful session, Jim Richards and Brendan Brothers discuss the limitations of the current one-size-fits-all approach to compliance and anti-money laundering. Learn why segmentation is effective at fighting fraud, and how these lessons can be applied to transform the AML industry. Learning Objectives - Review of the limitations of current AML approaches and technologies to -effectively fight financial crime - Understand how segmentation improves fraud detection and how these lessons can be applied to strengthen anti-money laundering efforts - Learn how innovative technologies and customer segmentation will transform the AML industry

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Verafin is the industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. 3500 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states.