This article was written by Jerusha Pegg, Product Manager AML at Vyntra. The Wolfsberg Group has formally recognized AI/ML as an essential tool in transaction monitoring — signaling to regulators and institutions alike that the era of rules-only monitoring is over. For decades, financial institutions have relied on traditional rules-based systems, referred to as “drag […]
By Pallavi Kapale, Senior Financial Crime Officer – Financial Crime Intelligence Unit, Bank of China, Sandy Lavorel, Head of Fraud Intelligence, NetGuardians. As the threat landscape continues to evolve, financial institutions face unprecedented levels of fraud and scam activity, often orchestrated by organized criminal networks with sophisticated capabilities. Traditional, siloed approaches are no longer sufficient. Fraud prevention […]
As financial fraud becomes increasingly sophisticated, businesses and financial institutions must evolve rapidly to stay ahead of fraudsters. In a recent panel discussion, experts from across the industry gathered to explore the shifting landscape of financial fraud, including emerging threats, innovative defense strategies, and the crucial role technology plays in combating financial crime. The session […]
By training AI models to spot transaction behavior over time, NetGuardians has developed a powerful new tool in the fight against money laundering.
The SWIFT Customer Security Program (CSP) continues to evolve. As do the threat actors. Roy Belchamber explains how you can comply with the updated Customer Security Controls Framework (CSCF) and simultaneously protect your organization from the monetary impacts of ever-increasing, but adapted, wire fraud threats As CSP has evolved year-on-year, it has significantly raised the […]
NetGuardians has changed the game when it comes to spotting money laundering, by training machine-learning models to spot more cases – with up to 10 times fewer false alerts than the rules and parameter approaches currently adopted by banks, writes Jérôme Kehrli. At the end of last year, the International Monetary Fund (IMF) urged policy-makers […]
In the ever-evolving landscape of financial crime, staying ahead of money launderers is a perpetual challenge. NetGuardians’ recent webinar, “AI in AML: Navigating the New Frontier in Banking Compliance,” showcased how cutting-edge AI technologies are transforming Anti-Money Laundering (AML) efforts. Hosted by AML Product Manager Jerusha Pegg and CTO Jérôme Kehrli, the webinar delved into […]
In an era of rapidly evolving technology, Large Language Models (LLMs) likeChatGPThave emerged as innovation front-runners. However, their celebrated capabilities are not without potential risks that require our attention. Today, we will explore these issues, highlighting the potential negative impacts of these technologies on the banking industry and our savings. 💡Beyond the Surface: The GPT […]
New AML software from NetGuardians is a game-changer for stopping criminals using the financial system to clean their cash, write Jerusha Pegg and Jérôme Kehrli. Money laundering is big business. According to the UN, some 5 percent of the world’s wealth is laundered by criminals every year – that’s up to $2 trillion in the […]
