There is a lot of conversation in the industry about the inefficiencies of “traditional” rules-based monitoring systems, Alert-to-SAR ratios, and the problem of high false positive rates. Let me add to that conversation by throwing out what could be some controversial observations and suggestions… Current Rules-Based Transaction Monitoring Systems – are they really that inefficient? […]
Machine Learning and Artificial Intelligence proponents are convinced – and spend a lot of time trying to convince others – that they will disrupt and revolutionize the current “broken” AML (anti-money laundering) regime. Among other targets within this broken regime is AML alert generation and disposition and reducing the false positive rate. The result, if […]
Introduction In my twenty years of being a BSA officer, I’ve learned a lot, both through any successes my team has had, and through the mistakes I’ve made. In this article, I’m going to share with you all the things that have stood out to me in my career: all the AML stakeholders, the full […]
