Archived Webinar

How many of your customers own ATMs?

Special BSA/AML Webinar Series
Intelligent Segmentation: A New Approach to Identify High-Risk Customers

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Originally Presented: May 1, 2018

As outlined in the FFIEC BSA Exam Manual “privately owned ATMs are particularly susceptible to money laundering and fraud.”

Identifying ATMs can be a challenge for financial institutions as customers, including convenience stores, bars, restaurants, grocery stores, or check cashing establishments, can add the service long after account opening. To ensure you meet examiner expectations for privately owned ATMs — you likely have to rely on time-consuming manual reports.

This 20-minute session describes the challenges of meeting regulatory requirements for private ATM owners, and why a better approach is needed to identify high-risk customers for more effective due diligence, targeted monitoring, and enhanced reporting. Learn how Verafin uses artificial intelligence and open-source data in high-risk customer finders to automatically identify privately owned ATMs for you.

Highlights of this 20-minute presentation:

  • Review of risk factors and mitigation strategies related to ATM Owners from the FFIEC BSA/AML Exam Manual.
  • Discussion on the challenges of identifying customers who become ATM owners after account opening.
  • Overview of the benefits of an Intelligent Segmentation approach to your high-risk customer management program with a focus on ATM owners.
  • How to get alerted to unknown privately ATM Owners, and other high-risk customers in your existing customer base with Verafin’s high-risk-finder analysis.

Tagged as...

  •   BSA/AML Compliance
  •   CDD/EDD
  •   Examination
  •   High-Risk Customer Management
  •   Intelligent Segmentation

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