The Truth about False Positives and How to Reduce Them

  • When: February 6, 2019
  • Time: 12PM – 2PM ET
  • Level: Intermediate to Advanced

False positives are costly, frustrating, unproductive – and, perhaps most importantly, can divert precious compliance resources away from managing real AML risks faced by financial institutions. However, while false positives can never be completely eliminated, they can be reduced by effective management, particularly of data collection and verification and well-calibrated monitoring systems. In this webinar, expert panelists will examine the root causes of false positives, while providing practical guidance on how to reduce them while remaining vigilant on risk-based oversight that protects your institutions.

Learning Objectives

  • Auditing existing internal data quality controls to ensure information is complete, in standardized formats across the enterprise and free of errors or unnecessary duplication
  • Segmenting customer and transaction data to sharpen systemic focus on most relevant risks and adjust monitoring protocols as warranted for greater accuracy on matches and alert generation
  • Conducting regular reviews of false positives to analyze root causes of unwarranted false positive volumes and avoid oversight issues such as “alert fatigue”

Who Should Attend

  • Risk Managers
  • AML Officers
  • Technology Advisors
  • Data Management Specialists

Region/Industry

  • Global
  • Regtech Providers
  • Banking
  • Securities
  • Casinos

Pricing

ACAMS Members Non-Members
$245 $445
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*Enterprise members may receive preferential pricing on the below training events and certificates. Please contact salesrequests@acams.org to register.

Moderator

Angel Swift
  • Angel Nguyen Swift, CAMS

  • Chief Collaborator
  • ASCollabs

Angel Nguyen Swift is an advisor and independent consultant with Enigma Technologies, a data intelligence company, where she most recently worked as the Vice President of Compliance and Financial Crimes Solutions. She is also the creator of the STAT (Stand Together Against Trafficking) project, which connects the anti-human trafficking community to identify and share financial indicators of human trafficking activity. To further this mission, she has partnered with Polaris, ACAMS (Association of Certified Anti-Money Laundering Specialists) and Enigma, to leverage technology to empower the sharing of these financial indicators across the anti-financial crime community.

At Enigma, she led strategic initiatives focused on bringing augmented intelligence to help financial crime professionals make informed decisions effectively. Her work included helping financial institutions assess their current AML processes to identify areas where technology could strengthen and close gaps in their programs. In addition, Angel has been called upon by financial institutions to assess and develop strategic initiatives to build and restructure their financial intelligence units (including SAR investigations, EDD, KYC Refresh, sanctions/PEP screening and review, transaction monitoring, information sharing program). Angel has also led and advised on product research initiatives to develop Enigma’s Screen product, a watchlist screening engine which deploys a methodology premised on advanced data matching algorithms and machine learning. Research and development included deepdives into sanctions screening processes at financial institutions.

Prior to Enigma, Angel spent nearly a decade building and leading the financial intelligence unit (FIU) at American Express. Under her leadership, the FIU expanded from five people focused on the U.S. card business to nearly 500 people supporting the enterprise in more than 40 countries. As VP of the FIU, Angel was responsible for establishing and maintaining an end-to-end program that supported the suspicious activity reporting process, including transaction monitoring rule development, quality control, sanctions screening and investigations, enhanced due diligence reviews, KYC refresh, anti-corruption and bribery monitoring and investigations, and special investigations. Her responsibilities also included leading development of technology solutions for the FIU, managing regulatory examinations conducted by all federal and state agencies, and spearheading the development, implementation, and presentation of large-scale remediation efforts related to the company’s AML program.

Speakers

Chris Bagnall
  • Chris Bagnall, CAMS

  • Financial Crimes Compliance Director – Economic Sanctions
  • Fifth Third Bank

Nishi K. Gupta
  • Nishi K. Gupta

  • Vice President, Global Risk, Banking & Compliance
  • American Express

Eric Hale
  • Eric Hale, CAMS

  • VP of Analytical Solutions
  • Zencos