The Fintech Times

SEPTEMBER 14, 2024

She explains while AI can streamline compliance processes and save compliance teams time to spend elsewhere, firms need to be careful about how they implement it. “This improves customer due diligence by concurrently cross-referencing many databases to verify identities with potential clients and any risks associated with them.

Compliance 69

Compliance AI Process Suspicious Activity Report (SAR) 69

Seon

MAY 10, 2024

Through automating tasks that used to take up much of an analyst’s time, case management systems can quickly highlight and prioritize the most severe alerts. This enables analysts to use their time effectively, closing alerts more swiftly and improving their risk management.

AML 52

AML Money Laundering SARS Suspicious Activity Report (SAR) 52

Seon

JUNE 29, 2023

KYT is a regulatory compliance requirement. Reject any flagged transactions that continue to appear illegitimate at this point and file them in a suspicious activity report (SAR) for the attention of the organization’s given financial authority. As such, it is part of an organization’s due diligence.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

Seon

SEPTEMBER 14, 2023

What Does High-Risk Source of Application Mean? A “high-risk source of application” is a label assigned by risk management teams to flag potentially fraudulent applications for financial services, such as credit cards or loans. We discuss what to look out for and share some best practices to help businesses stay alert.

Risk 52

Risk Money Laundering Suspicious Activity Report (SAR) AML 52