View Post

Top 8 Fraud Trends for 2020 and Beyond

The COVID-19 pandemic has combined with rapid changes in consumer behavior and banking initiatives to accelerate many fraud trends. Businesses now see up to two years of digital transformation taking place in just a few months. This white paper covers: Pandemic Impact on Fraud in the Banking Ecosystem Identity Theft and Synthetic Identity Will Continue to Be a Major Problem …

View Post

3 Myths about Relationships with Regulators

Anti-Money Laundering June 17, 2020 Steven Dietz, Financial Crimes Advisory Lead Bank Executives, AML Officers and AML management staff often deal with many stresses in their day-to-day activities. Among the many stresses Executives and AML professionals face, whether it be designing adequate programs, whether risk scoring and transaction monitoring tools are capturing optimal levels of risk and activity, managing and …

View Post

5 Quick Wins for AML Efficiency

riskCanvas’ Financial Crime Solutions team has produced this paper to share ideas for enhancing efficiency within AML programs. These 5 “Quick Wins” can provide your institution with ideas for improvement. This white paper enumerates the “low hanging fruit” which AML programs can incorporate to see the immediate value add in their mission for increased efficiency. Get the White Paper White …

View Post

Cryptocurrency – What it Means for AML

Since the introduction of Bitcoin, the guiding principles adopted by peers and competitors have been largely consistent; however, the principle of anonymity has become both a major driver of Bitcoin’s growth and a major blocker to its ability to fully enter the mainstream. This white paper examines what Anti-Money Laundering will look like in the era of Cryptocurrency and the …

View Post

Financial Crime Convergence

riskCanvas believes that the future of risk management for financial institutions is in the convergence of cyber threat intelligence, AML, fraud, insider threat detection, trade surveillance, and other related programs. This convergence will not only enable financial institutions to detect the symptoms of a threat, but also to connect the dots between these symptoms and to more comprehensively understand both …

View Post

Anti-Money Laundering – In the Post-CDD Rule Era

Tens of thousands of hours of preparation have gone into the policies, procedures, and technologies needed to effectively respond to the Financial Crimes Enforcement Network’s (FinCEN) Customer Due Diligence (CDD) Rule. Since the rule was announced in May 2016, every anti-money laundering (AML) industry conference, peer working group, and compliance department planning meeting has focused extensively on CDD Rule preparations. …

View Post

Unlocking Automation in AML Investigations

riskCanvas’ Financial Crime Solutions team has produced this paper to explore the value and the inherent limitations of automation within AML programs, contrasting current approaches through the lens of automation. This whitepaper discusses the current pain-points AML programs currently face, understanding the viability of automation and what portion of the AML process can be automated, as well as a preview …

View Post

Big Shifts in AML: Machine Learning and Data Science

riskCanvas’ Financial Crime Solutions team has produced this paper to explain why incorporating machine learning and data science into anti-money laundering (AML) transaction monitoring will improve program effectiveness. This whitepaper discusses the big shifts within the AML industry over the past 40 years, how AML programs have relied on transaction monitoring, the evolution of technologies in the realm of machine …