Anti-Money Laundering (AML) Regulations

Data analytics and machine learning can help enterprises comply with anti-money laundering (AML) regulations. With financial services institutions required to invest in anti-money laundering compliance, fraud detection data analytics can help firms avoid the consequences and blowback of financing terrorism and organized crime. 

Big data analytics solutions offer institutions a proactive, effective, and cost-efficient regime that can adapt as new requirements are introduced. 

With financial services institutions now both responsible and accountable for catching perpetrators of money laundering, traditional rules-based detection is simply not enough. Firms need to invest in a substantial anti-money laundering framework to catch criminals, meet compliance requirements, and to avoid the heavy penalties for failing to do so. 

With criminal actors actively evolving their strategies to avoid detection, banks need to be highly adaptable. Investing in the right data analytics solution can enable firms to manage, sort, and analyze vast volumes of data efficiently and at a lower cost than traditional solutions. 

Fraud Detection Solutions

Scalable analytics solutions can meet evolving regulatory frameworks while lowering future compliance costs and penalties. Moreover, data analytics platforms can integrate various data sources into an accessible user interface. 

Firms harnessing the power of big data solutions to detect fraud can stay ahead of the curve with the latest in data analysis innovation and by reducing compliance cycle times. 

Precisely’s data quality software can help enterprises improve their anti-money laundering compliance regimes with the latest in data analysis. Precisely integrates data from diverse sources into one accessible platform for business analysts, allowing them to run compliance cycles while discovering new ways to respond to suspicious activity. 

Precisely can help anti-money laundering requirements such as Know Your Customer (KYC), Customer Due Diligence (CDD), and reducing filing times for Suspicious Activity Reports (SARs).