The Convergence of Cyber, Fraud, and AML

Kevin W. Toth, CAMS

Cybercrime is the most ubiquitous threat our financial ecosystem, and in turn the AML industry, is challenged with today. Unsurprisingly, cybercrime is the least understood and the most unprepared for threat the AML industry has ever faced. This foundational paper will inform the AML professional of the basics of the ‘cyber world’ so that they will obtain a working knowledge of the subject. Furthermore, this paper will detail how the convergence of Cyber, Fraud, and AML occurs and proposes a solution as to how financial institutions can react and respond to the daunting threat of cybercrime.

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