Money laundering
Show your workings: lenders push to demystify AI models
Machine learning could help with loan decisions – but only if banks can explain how it works. And that’s not easy
Banks fear Fed crackdown on AI models
Dealers say agencies’ request for info could prompt new rules that stifle model innovation
Op risk data: Money laundering gaffes cost ABN €480m in penalties
Also: Turkish crypto exchange’s missing $2bn; online payment scams rise during Covid. Data by ORX News
Top 10 op risks 2021: theft and fraud
Changes in working practices since Covid shift angle of criminal attack on financial institutions
Op risk data: Chronic corruption charges cost Deutsche dear
Also: Wells Fargo fee fight; Nasdaq queers Emir reg; Covid keeps AML fines in line. Data by ORX News
Fighting financial fraud with AI
Risk and compliance professionals convened for a Risk.net webinar, How to successfully mitigate fraud – AI in action, in association with NICE Actimize to debate the use of artificial intelligence in the fight against fraud
Jumbo Goldman 1MDB fine upends 2020 trend to lower losses
Financial fraud and fat fingers loom large, but annual top 10 op risk losses still show fewer fails. Data by ORX News
Diginex chief on taming the Wild East of cryptocurrencies
Asia Risk 25: Singapore-based digital exchange wants to bring respectability – and regulation – to the sector
AML 2.0 – The new wave of borderless, perpetual compliance
This webinar explores the new vision for anti-money laundering and know-your-customer compliance – a digital, integrated approach to seamlessly manage risk and mitigation by focusing on continuous, holistic reviews of customer activity, regardless of…
Op risk data: Firm-wide control fails cost Citi $400m
Also: Deutsche draws fire and AML fine over Danske trades. Data by ORX News
AML bill will swamp financial crime teams, banks warn
Proposed US legislation could force firms to run new and old systems in parallel, stretching resources
Fight against dirty money falters in blizzard of SARs
Authorities are swamped with suspicious activity reports, many of which are never investigated
After FinCEN leak, banks want more help from regulators
OpRisk Europe: Suspicious activity reports are going into a “black hole”, banks complain
A risk-based approach to AML and financial crime risk in Asia‑Pacific
Financial institutions across Asia‑Pacific are grappling with fast-changing risks and digital transformation in their efforts against money launderers and financial criminals. Risk.net hosted a webinar in association with NICE Actimize to discuss the…
Driving anti-money laundering efficiency gains using artificial intelligence
Anti-money laundering (AML) is expensive and labour-intensive, and artificial intelligence (AI) can offer improved efficiency gains. Could they be a match made in heaven? This Risk.net webinar, in association with NICE Actimize, took place amid the…
Risk Technology Awards 2020 – Coping with Covid uncertainty
Scenarios scrapped, rules revised and holes plugged – how the winners of the Risk Technology Awards 2020 are adjusting to the Covid‑19 pandemic
Managing AML and fraud – A risky business requires a risk-based approach
This webinar explores how to meet AML and fraud management obligations while empowering core businesses to remain competitive and innovative
Top 10 operational risk losses of 2019
Fraud, embezzlement, tax evasion, subprime (still) and rogue trading – and Citi crops up twice. Data by ORX News
NY Fed’s Stiroh: ‘More work to be done’ on bank culture
Supervision chief warns on new risks from machine learning bias
Asia lenders usher in year of the virtual bank
The surge in online banking is informing risk technologies in traditional banks
Deploying agile analytics in the fight against fraud
Financial firms are under pressure to tackle the widespread problem of financial fraud. As the speed, scale and sophistication of fraudulent activity grows, a panel of financial crime experts reveal how firms can develop an agile analytics capability to…
