September 2020 Issue
Sri Lanka’s largest bank, Bank of Ceylon is live with real-time, multi-country Anti-Money Laundering and FATCA compliance. Read the case study to know how Clari5 helped the ‘bankers to the nation’ achieve global AML compliance.
Combating Money Laundering From The Cloud. Are Banks Ready?
Until recently, ‘the cloud’ used to be a bugbear for the banking industry. Banks were hesitant to move vital data and information from in-house environments to the cloud, least of all for financial crime risk management.
Striking 2 Birds with 1 Stone: How To Grow Revenue While Preventing Fraud, Using The Same System
Imagine an intelligent system that studies customers’ behavioral patterns to detect fraud, is also creating precise personas for the bank’s marketing teams to target campaigns to. The same real-time, context-aware logic/approach used to combat cross-channel fraud can also help enable intelligent, hyper-precise targeted and contextual customer engagements.
Tackling Money Mule Frauds During Covid- 19
There’s a rise in fraudsters taking advantage of the socio-economic conditions created by the COVID-19 pandemic, to pull off money mule scams. Besides stealing economic stimulus payments and unemployment benefits, money mule fraudsters are flourishing on opportunities during the crisis.
Deepfake Frauds: Will Banks be the Next Stop?
Where there’s money, there’s crime. Trust fraudsters to leverage new technology in their commitment to gain access to accounts, or to set up accounts or steal money. It is just a matter of time before deepfake becomes another method for digital rogues to defraud banks.