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.

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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.

In the time it takes to view this webpage
$43M+
will be laundered, and most will go unreported
rainbow money
COVID-19 & A Changing Financial Crime Landscape
The effort it takes to stay one step ahead of financial criminals should not be underestimated, and the COVID-19 pandemic has made AML surveillance even more challenging. Because of the lockdowns, people have changed their buying behavior, Further, some clients may have been driven to engage in riskier activities to find new sources of income.
In the time it takes to view this webpage
$43M+
will be laundered, and most will go unreported

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

Meet our AML Thought Leaders

Darren Innes

Darren Innes

With 20+ years’ experience in RegTech focused on AML, KYC and regulatory data, I am leading Nasdaq’s expansion of its globally-recognized trade surveillance into complementary areas. As the General Managers for Mantas in EMEA and Asia, I was instrumental in the sale of Mantas to Oracle and was also instrumental in enabling the sale of C6 Intelligence to Acuris as the C6 Intelligence CEO. I spent 5 years at Barclays responsible for training and development of new regulated sales people, and prior to thisspent 9 years in the British army, primarily focused on counter-terrorism activities.
RegTech Product Innovation, Nasdaq
Chris Brannigan photo

Chris Brannigan

I am the Founder and CEO of Caspian. From a background in neuroscience research, I have 15+ years’ experience in developing technology based expert performance systems to augment human decision-making in the military, pharmaceutical and finance sectors. I lead the Caspian vision to develop expert investigative technologies that can explain complex decisions in the fight against financial crime.
CEO, Caspian Learn more about Caspian
Michael Karbouris

Michael Karbouris

We explored the AML market extensively to identify suitable growth opportunities as it’s an area that we feel is ripe for innovation through technology.
Head of Strategy, Buy & Sell-side Solutions, Market Technology, Nasdaq Learn more about Nasdaq's RegTech Strategy

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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

Nasdaq MarketSite tower featuring Caspian
Nasdaq Ventures invests in Caspian
Caspian’s proven solution solves a huge pain point in the industry, dramatically increasing analyst productivity and resulting in meaningful cost-savings for bank compliance teams.
Chris Brannigan, CEO
Harnesses machine learning with human expertise to help banks fight money laundering
Caspian, an industry leader in automated AML investigation technology, will accelerate its product expansion and scale of its award-winning platform, AML Investigator. Nasdaq’s leading position in financial crime will accelerate Caspian’s go-to-market, with the company’s expertise supporting growth at scale.
Learn more about Caspian
Gary Offner Headshot

One feature that is critical to the financial industry is detecting, mitigating and managing fraudulent and criminal behavior.

Gary Offner, Senior Vice President, Head of Nasdaq Ventures Read the press release

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