Elements of a card and potential fraud aspects related to it?
What is a Card? A quick Introduction A card, credit or debit, is a piece of plastic issued by a financial institution to make payments for goods or services purchased…
Staying Just Under: The Script Kiddie’s Guide to Money Laundering
One of the simplest and most common techniques used by rookie money launderers is “structuring” or “smurfing”—breaking up large transactions into smaller amounts to avoid detection. The goal is to…
Transaction Monitoring Watchlists and How to Keep Them Updated
Introduction: What Are Watchlists? A watchlist is a broader, flexible list of individuals, entities, or countries that pose potential risks. Being on a watchlist doesn’t necessarily mean that an individual…
Preparing curated data sets for an effective Data Analysis
Before finding the next fraud pattern/modus operandi affecting your organization, we need to make sure you have the right complete data for analysis. Having complete organized transaction data to detect…
What are financial crime rule categories, and why is understanding them important?
Financial crime analytical systems have rules, rule types, and rule categories, so what are these? And when do you use one and not the other? Let’s learn about them. Rule…
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…