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Globally, financial institutions have been penalized with over $321 billion since 2008. Remediation costs over the first 18 months are ~12 times greater than the fine itself.
Banks and Financial Institutions (FIs) are at increased risk today, given the rising sophistication of financial crimes worldwide due to inefficiencies in existing solutions such as siloed AML programs and static rules-based and gaps in AML solutions.
Key takeaways from this webinar:
- Intense need in the market to upgrade AML programs to improve the risk coverage based on the current environment.
- Urgent need to improve the operational efficiency of AML programs.
- AML operating system combating financial crime through AI and collective intelligence.
