Recent reports on leaked FinCEN Files shine a spotlight on weaknesses within the global anti-money laundering system once more. Part 1 of this article series presents the problem of how AML processes are failing due to inefficiencies across the entire ecosystem. Now in Part 2, learn how anti-money laundering analytics solutions help financial institutions better fight financial crime as industry specialists share their insight on the best tools and technologies for AML.
To expose and prevent money laundering activities, fast and efficient access to information is paramount. Suspicious Activity Reports (SARs) are a key piece of the puzzle and remain at the core of anti-money laundering programs because they provide intelligence that would otherwise not be disclosed.
How can financial institutions provide a full 360-degree view of clients and suspicious transactions reported in SARs to help law enforcement agencies more quickly investigate and neutralize criminal activities? In addition, what if authorities could identify connections between multiple SARs and better target investigation efforts by seeing the bigger picture?