A tenfold increase in accuracy of transaction monitoring rules is achievable with short lead-time and without investing in new systems. AML/CTF work often involves organizing workshops and meetings to establish rules for detecting suspicious activity. This frequently leads to an excess of false positive alerts and AML professionals not focusing on genuinely suspicious activities. However, significant improvements in AML outcomes can be achieved without revamping the entire process.
● Oliver Flinck, Manager, BearingPoint
● Daniel Isaksson, Consultant, BearingPoint