Pausing a transaction request can stop a fraud and major financial loss to customer
Employee training does not get mentioned enough in terms of how these frontline staff at a financial institution can save a client/member from losing their money to a fraudster. Frontline employees should at minimum have an innate curiosity and ability through training to recognize a red flag signal that may not meet the smell test […]
Sharing AML compliance expertise on LinkedIn
A good reminder here on how anti-money laundering professionals should be willing to share on platforms such as LinkedIn, as many do already, because others will without doubt benefit from their insights, knowledge and field experience. Sharing expertise and knowledge on the fundamentals of AML and strong compliance can only help other professionals refocus and […]
Risk reviews are necessary and should be ongoing
An obvious place to start on this LinkedIn post is financial institutions need to assess their clients/members profile first if they are going to evaluate their potential risk to be targets of fraud and/or be an accomplice in one through the account they have set up. It also cannot be static as ongoing monitoring must […]
FinCrime Institute offers cogent advice on AML
As evident from this FinCrime post, the responder Louisa Bowman gives credence to remaining objective and not jumping to any conclusion at the outset of an investigation. Look at all the evidence and take it from there. This goes for ones which appear legitimate or suspicious. Ms. Bowman says,” The objective is to assess the […]