A Guide to Anti-Money Laundering for Crypto Firms

Customer Screening: Maximizing Effectiveness and Efficiency Report

AML Compliance Reports

Customer Screening:
Maximizing Effectiveness and Efficiency

A Balancing Act

If companies aren’t strategic in their approach to customer screening and monitoring, they risk being overwhelmed with alerts. Those companies face high operational costs, a nearly-impossible-to-clear backlog of alerts, longer remediation times and an increased likelihood of human error skewing their screening process.

While there’s an inherent friction between effective screening and efficient customer service, financial institutions must find a way to satisfy these competing interests. This report explores the practical challenges financial institutions face in balancing effectiveness and efficiency and how technology can help.

In our guide we cover:

  • Maximizing effectiveness and efficiency
  • Common false positive scenarios to mitigate for
  • How search matching algorithms can help overcome this
  • Tuning the screening system configuration

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