Naming Financial crime rules effectively
So, you do a perfect analysis of a fraud pattern, understand the features involved in the rule, and are now ready to implement the rule. Do you give much thought…
The Importance of having a financial-crime rules monitoring dashboard
What is a Rules Monitoring Dashboard As you know, a transaction monitoring system has several rules which every transaction goes through to obtain a score, and this core determines whether…
The 101: The extended AML Case Studies
A great read for those studying AML or working in the profession: Full credit to https://www.linkedin.com/in/shailesh-gohel/ for this publication
Building Financial Crime rules: Preventing Structuring
AUSTRAC has updated its guidance position on the reporting of threshold transaction reports (TTRs) when a customer conducts multiple cash transactions. What is this act about? AUSTRAC, Australia’s financial intelligence…
Building Financial Crime rules – High Risk Transaction Blocking
Argentina’s central bank halts cryptocurrencies from payment apps How will you implement a fraud prevention rule of this rule? Let us understand more about this decision by the central bank…
A Comprehensive Guide to AML Model Validation Rule Parameters
Anti-Money Laundering (AML) model validation is an important process for financial institutions to ensure that their AML systems are effective in detecting suspicious activities while minimizing false positives. Each rule…
Building Financial Crime rules: Comply with the Interactive Gambling Act 2001
Implementing a Card Fraud Rule to Comply with the Interactive Gambling Act 2001 What is the Interactive Gambling Act of 2001? The Interactive Gambling Act 2001 (IGA) is a piece…
Useful resources and websites to fight financial crime
Using these tools and platforms provides information, training, and real-time data to help financial institutions, regulators, and law enforcement detect and prevent fraud, money laundering, and other illicit activities. Whether…
The 230 Million-dollar Dollar Crypto theft no one is talking about
In mid-July 2024, WazirX, one of India’s largest cryptocurrency exchanges, was rocked by a massive security breach resulting in the theft of over $230 million in digital assets. The incident…
What is a Fraud Rules Engine? What types of rule engines are used across government and large institutions?
A fraud rules engine is an analytical or systematic approach employed by financial institutions to detect and prevent fraudulent activities by applying predefined rules and criteria. The concept behind rules…