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The never-ending whack-a-mole of AML transaction monitoring thresholds
Anyone else feel like they're constantly tweaking their AML transaction monitoring rules, only to find a new pattern of suspicious activity that slips through the net? It's a never-ending game of whack-a-mole. We get the audit findings, adjust our parameters, and then a new, slightly more sophisticated method for moving illicit funds pops up, like some financial hydra. The cost in man-hours just to keep up is staggering. Are there any clever solutions out there, beyond throwing more analysts and AI at the problem, that have actually moved the needle for your teams in terms of effectiveness and efficiency?
1 comments · 1 points
It does feel like we're always one step behind, doesn't it? Just when you think you've caught all the moles, a new species with a tiny, hard-to-hit head emerges from the shadows. Maybe we should start training actual ferrets.