Financial institutions and customers are facing growing threats from fraudsters and evolving scam scenarios, including check schemes, card compromise, online account takeover and business email compromise. In this session, industry and technology experts will outline new approaches to prevent losses and improve efficiencies in fraud management programs, including big data and machine learning.

Former top banking executive and industry expert, Jim Richards will provide insights into the regulatory and anti-financial crime industry by reflecting on the journey that led to the current BSA/AML framework, and examine the challenges of providing actionable intelligence to law enforcement.

With the increasing complexity of today’s BSA/AML landscape, financial institutions are facing increasing challenges to keep pace with changing regulatory requirements, daily compliance workloads, and complex money laundering investigations. Industry and product experts will provide an overview of best practices and approaches to improve efficiency, ensure compliance, and uncover money laundering activity.

Big data is key to the future of AML and financial crime detection. In this special session, industry and technology experts will discuss the limitations of current approaches to detecting financial crime and provide insights into a way forward for AML by leveraging technology-enabled solutions, including data lakes and consortium data.

Institutions are under increased regulatory pressure to meet requirements for CDD/EDD, particularly regarding the identification, segmentation, stratification, and surveillance of FFIEC high-risk customer types. In this session, industry and product experts will discuss the benefits of a segmented, stratified approach to high-risk customer management, outline best practices for developing risk models for customers in higher-risk categories, and demonstrate how technology can improve the effectiveness and efficiency of your CDD/EDD processes.