Compliance, Financial Crimes and Freeze Account

OCBC and Singapore Police Freeze Over 300 Accounts, Seize S$1.8 Million

Fintech News

AUGUST 21, 2024

This activity hindered efforts to track and regulate the flow of funds, posing significant challenges for authorities in combating financial crimes. In response, ASC and OCBC collaborated to utilise in-house data analytic models and network detection tools to identify and freeze accounts exhibiting potential money mule behavior.

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Accounts Financial Crimes Scams Freeze Account

How to Reduce AML False Positives and False Negatives

FICO

NOVEMBER 14, 2019

These issues seem to be universal across the banking industry, as an Ovum survey of those that work in AML at UK banks found: 83% say a major business concern is the risk of reputation damage from failures to tackle financial crime. Moving the Threshold Doesn’t Solve the Problem. Want to learn more? by Sarah Rutherford.

AML

AML Money Laundering Financial Crimes Crime

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OCBC and Singapore Police Freeze Over 300 Accounts, Seize S$1.8 Million

How to Reduce AML False Positives and False Negatives

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