WorkFusion’s Post

Last year, AML system failures led to more than $7 billion in fines paid by several financial institutions. That number alone showcases the dire consequences that come with being non-compliant. The growing importance of AML compliance and increased sanctions, coupled with the challenging labor market and overworked employees creates several challenges for financial institutions. There’s an easy fix and it’s our AI Digital Workers. Check out this eBook to learn how they can remediate your inefficiencies: https://bit.ly/4eGf6EO #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #regtech #sanctions #aml #compliance

Recent news spotlighting Anti Money Laundering shows regulatory bodies tightening their stance against financial crime. I'm seeing: Stricter Regulations: Approval of new regs in 2024 from AMLA who will provide stronger enforcement in Europe so expect your compliance requirements to grow. Tech-Driven Monitoring and Screening: AI, data analytics, and advanced transaction monitoring are becoming essential for identifying suspicious activity. Increased Accountability: With regulators emphasising leadership responsibility, a strong compliance culture is critical. As AML evolves, now’s the time for compliance teams to invest in innovation and collaborate. How is your organisation preparing? #AML #Compliance #FinancialCrime #Regulation #Innovation #Fintech

A London firm was recently fined more than £15,000 ($18,000) after the Solicitors Regulation Authority found they failed to both make staff aware of AML requirements and provide them with relevant training. There’s technology to bring automation into AML and Sanctions compliance programs, like our AI Digital Workers. They come off the shelf trained with up to five years of experience to automate a lot of the tedious work level one analysts are doing. Click here to learn how you can start modernizing your financial crime fighting: https://bit.ly/4dlUBNs #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #regtech #sanctions #aml #compliance

Fighting Fraud and Financial Crime The continuing battle against fraud and financial crime demands constant adaptation and innovation. This report by Information Security Media Group explores how AI is currently being harnessed in the banking sector to combat fraud and financial crime and what benefits and risks are associated with the expanding integration of AI in fraud/financial crime detection and prevention. https://buff.ly/4907wl0 #banking #fraud #financialcrime #economiccrime

Why spend 30 minutes doing an adverse media review on someone when our AI Digital Worker Evelyn can do it in three? While she reviews and dispositions false positive alerts, your AML compliance team can be spending their time identifying true potential risks faster and with greater accuracy. Click here to get started: https://bit.ly/3wHTFCQ #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #regtech #adversemedia #aml #kyc #sanctions

Compliance budgets have regularly decreased over the past few years. Meanwhile, financial institutions are being fined record amounts for being non-compliant. If you augment your AML team with an AI Digital Worker, you'd remediate any inefficiencies. Check out this eBook to learn how AI is modernizing financial crime fighting: https://bit.ly/3L5f2l8 #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #regtech #sanctions #aml

Financial criminals are constantly innovating. Unfortunately, the same can’t be said of financial institutions. There are financial crime problems today that didn’t exist two decades ago, and banking and financial services companies have been slow to find innovative ways to solve them. AI can help. We’ve identified five AML compliance issues ripe for innovation and how our highly skilled AI Digital Workers can help transform each one: https://bit.ly/3TcDTYr #digitalworkers #futureofwork #automation #intelligentautomation #artificialintelligence #fintech #fincrime #regtech #sanctions #aml #kyc

Learn why tech alone isn't enough to combat financial crime. Discover how firms can enhance fraud and AML programs effectively. Download the report here: https://okt.to/Cx2Zmh #ComplyAdvantage #financialcrime #AML

What are the pitfalls that you need to avoid when you're implementing AI to detect financial crime? Our Chief Solution Officer, Michael Shearer, has highlighted a number of things that should be avoided during implementation: - Rushing data collection - Training too soon - Training on insufficient casework  Michael provides more advice from his personal experience of implementing AI at a global bank in this article: https://lnkd.in/eqKCWmfT If you'd like to know more about how Hawk can help your organization use AI for AML and fraud detection, book a demo with us today: https://hawk.ai/ #aml #fincrime #banking #financialinstitutions #compliance #ai #machinelearning #aiimplementation

What are the pitfalls that you need to avoid when you're implementing AI to detect financial crime? Our Chief Solution Officer, Michael Shearer, has highlighted a number of things that should be avoided during implementation: - Rushing data collection - Training too soon - Training on insufficient casework Michael provides more advice from his personal experience of implementing AI at a global bank in this article: https://lnkd.in/eqKCWmfT If you'd like to know more about how Hawk can help your organization use AI for AML and fraud detection, book a demo with us today: https://hawk.ai/ #aml #fincrime #banking #financialinstitutions #compliance #ai #machinelearning #aiimplementation