If you’re in the financial industry, you likely face the risk of fraud and money laundering every single day.
While federal regulations like Know Your Customer (KYC) are helping the financial industry chip away at that immense problem of fraud, most providers still face serious corruption. Discover how open source intelligence (OSINT) can help in our latest white paper.
There are a few major challenges that the world of due diligence and KYC is facing:
- Limited data sets. Traditional risk management tools used by most financial institutions neglect the enormous breadth of information lurking under the surface of the Internet. Plus, they may not monitor the data in anything close to real-time, so corruption could occur under the company’s nose for weeks or even months, and it wouldn’t know it until it was already chest-deep in losses.
- Difficulties of name-matching. Even when financial providers get the data they need about people and events, they often find it difficult to use. Without advanced technology, entity extraction and name-matching is tough to do.
Fortunately, there are solutions that can help financial service providers detect and prevent fraud faster:
- Open source intelligence (OSINT) technologies, which can provide additional data in near real time
- Natural language processing (NLP) techniques, which can help assist in name and entity recognition
Learn How to Fight Fraud with OSINT and NLP
In this new white paper, Stay Ahead of the Curve: Add PEPs to KYC in AML, we’ll uncover how you can use OSINT technologies and NLP techniques to help you fight fraud more effectively. You’ll learn how to add politically exposed persons (PEPs) to Know Your Customer (KYC) initiatives in anti-money laundering (AML) efforts.
- OSINT and the Deep Web
- Harvesting and Enriching Deep Web Data
- Case Study: How To Incorporate OSINT by Creating PEP Lists
- Conclusion and Next Steps
Download our Stay Ahead of the Curve: Add PEPs to KYC in AML white paper, and cut your financial corruption losses today!