AFC in Practice: Reducing the Noise from AML Screening

Recorded

Online

2 ACAMS Credits

Overview

To prevent money laundering, it's crucial for all financial institutions to have a risk-based AML program which includes PEP and adverse media screenings, as well as other monitoring and screening operations. As financial institutions grapple with increasing amounts of data, the need to discern relevant signals from background noise is more critical than ever. Our expert panel will share insights, best practices and advanced technologies designed to streamline AML screening, ensuring more accurate and actionable results.

Understanding the challenges posed by false positives and irrelevant alerts in AML screening and exploring the impact of noise on operational efficiency, resource allocation and compliance efforts

Optimizing AML screening processes to minimize noise without compromising regulatory compliance for items such as effective list management and appropriate contextualization

Identifying how technologies such as artificial intelligence, machine learning and data analytics can significantly reduce false positives and exploring case studies of successful implementations of advanced technologies in AML screening