Compliance is costing too much
How much is compliance really costing you?
We’re not just talking about the cost of technology. We’re talking about the costs associated with using separate AML and fraud detection software, while paying one company for watch list checking, and another for FACTA red flags. The hidden costs of trying to get those siloed systems to work together. Or the time lost when it's discovered that a fraud investigator and a compliance officer are working the very same alert. And that’s without considering the time you spend if you’re still relying on manual processes. Worse still is the cost of not catching fraud or money laundering.
FRAML (combining fraud and AML) not only helps cut costs, but more importantly, it allows you to create processes that are more efficient and effective. FRAML helps you detect more suspicious activity, and investigate and report it with ease.