Why Financial Crime Operations Need to Move From Rules to Reasoning
By Shwetha P, Director of Risk at Zoven.ai In 2023, global AML-related fines reached $6.6 billion. Yet the institutions paying those fines were not the ones that had ignored the problem. Many had invested heavily in transaction monitoring systems and compliance headcount. The issue was structural: the tools were designed for a world that no longer exists. Real-time payment rails SEPA Instant, FedNow, UPI, and their equivalents, process transactions in under two seconds. Criminal networks can...
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