During times of economic upheaval and uncertainty, it is natural for businesses to focus their strategic efforts on continuity planning and shoring up resources to weather the storm. Though increased focus on AML and ABC measures may not seem critical at this time, loosening this oversight could cause major issues down the line.

In a webinar presented in collaboration with the Florida International Bankers Association (FIBA), K2 IntelligenceFIN experts Michelle Goodsir and Joanne Taylor discuss how organizations can leverage compliance resources in order to maintain a robust program even in times of turmoil:

  • Being aware that tough times often breed increased risk, and being alert to the behaviors to look for when fraud and bribery risk increase.
  • Reducing AML and bribery risk through combined workflow and case management strategies, KYC due diligence, risk rating engines, and alert review teams.
  • Leveraging information available from AML, sanctions, and ABC sources to build more robust data analytics and risk trending.
  • Cross-training staff to cover instances of increased activity or shortages between various functions to stretch the budget.
  • Leveraging staff location and assessing skillsets in light of other restrictions such as data privacy while ensuring a consistency of approach.
    To view this webinar, click here. To access the recording you must scroll down to click “Watch Recorded Webinar,” complete the required fields, and then click “Register.”