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…
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…
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…
The 101: Fraud – Card Testing
Card testing is a old one but good one. Card testing has a long history and serves mainly two purposes for fraudsters: 1: Understanding if the card has been deactivated…
How Bad actors use NGOs and charity institutions to fund their activity and tips to prevent it
Defining Terrorism The US Federal Bureau of Investigation (FBI) defines terrorism as using violence and intimidation to pursue political, social, or ideological goals. People often associate terrorism with violent acts,…