White papers

Is compliance creating an industry own goal?

Maximizing the effectiveness of compliance teams with machine learning and advanced analytics

Financial institutions have a duty to do more to prevent money laundering and disrupt attempts to hide the proceeds of offences. However, too often, compliance teams lack the tools, training, partnerships, and compliance frameworks to effectively combat this issue. Poorly designed regulatory frameworks can also turn compliance into a mere box-ticking exercise, which does nothing to help the victims of these crimes.

To truly make a difference, financial institutions must empower their compliance teams with the right tools and training. Machine learning-powered analytics tools can flag indicators of money laundering and optimize the productivity of compliance teams. These intelligent algorithms can also be trained to simulate criminal behavior and independently test the effectiveness of current anti-money laundering solutions.

Download this white paper to learn more about how SymphonyAI NetReveal’s FinCrime Testing Service is already helping financial institutions with these capabilities.

“62% of financial institutions surveyed said money laundering techniques have become harder to spot over the past 12 months.”