AML Monitoring in a COVID-19 World

AI-based anti-money laundering (AML) solutions enable banks to improve efficiency, manage and mitigate risk, and take the high ground in the battle against financial crime.

Anti-money laundering

Banks have several tools to prevent and detect money laundering. But the prowess and motivation of money launderers, the number of methods they use, the volume of alerts, changing behavior patterns and high compliance costs often thwart efforts to stop it.

What are the key issues in AML investigation?

Alert volumes

Substantial alert volumes with 98% of investigations leading to dead ends

Investigation process

Inconsistent investigative procedures from analyst to analyst

Inconsistent parameters

Regulatory exposure from gaps in parameter settings

Sophisticated criminals

Sophisticated criminals consistently changing tactics to thwart investigations

Operational costs

Expensive operational costs make the investigations complicated and difficult to execute

Third-party consultants

Employment of consultants to reduce alert backlog when volumes increase due to widespread behavior change

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    Explores the importance of AML monitoring, especially during the Covid-19 pandemic.

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Nasdaq's Partnership with Caspian

Nasdaq Ventures Invests in Automated Financial Crime Investigations Firm Caspian

Investment bolsters Nasdaq Ventures portfolio of tech innovators; Caspian to expand AML offerings in partnership with Nasdaq

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