AMLRegTech

FinTech Finance speaks to VP Stephen Ball

By December 2, 2016 No Comments

In the UK for every for every £1 caught by AML regulation, £999 is successfully laundered. It’s clear the current ways firms screen and monitor their customer relationships to prevent money laundering and terrorist financing isn’t working. Stephen Ball, VP of Sales & Marketing at Comply Advantage talks to FinTech Finance about the minefield of AML compliance and how to cross it using regulatory technology (RegTech).

He argues that:

  • Compliance departments are faced with an ever-changing regulatory landscape in multiple jurisdictions and increasingly sophisticated criminals.
  • Legacy systems with insufficient static data sets are not fit for purpose, often generating hours of manual work.
  • Artificial Intelligence and Machine Learning are ideal technologies for streamlining compliance as it allows compliance professionals to automate manual, low level and time-consuming tasks, whilst reducing false positives and the chance of human error.

Click here to read the article in full and learn how ComplyAdvantage is helping firms to improve their AML compliance, increase automation and ultimately prevent financial crime.

Get the latest regulatory
and compliance news

Sign up now

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close