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Financial crime continues to soar. In 2022, Suspicious Activity Reports (SARs) increased 57% from pre-pandemic and the number is only expected to rise this year. Additionally, Interpol listed money laundering as the number one crime threat in its first-ever Global Crime Trend.

From the pandemic to the dramatic increase in sanctions to bad actors getting more sophisticated – financial crime-fighting has changed so much in a short period of time. The roles, processes, and technologies used to combat financial criminals have also evolved. Even the attitudes of regulators have changed in recent years. But where is it all headed and what can we learn from the past?

Join us for this expert panel of powerhouse women in FinCrime as they discuss the evolution of fighting financial crime – and what comes next:

  • How FinCrime has changed and where it is going
  • What new tools and techniques are being used
  • Advice and lessons learned throughout their careers
  • How AI is being used to innovate compliance operations

This year is only half over and according to the headlines, it’s already been a wild ride in the financial crime compliance industry. Multiple bank failures, cryptocurrency exchange failure/scandal, and the warp speed adoption of Artificial Intelligence (AI) have made this year busy for compliance officers.

The fear of entering a recession can drive companies and individuals to make decisions they normally would not. How can we as individuals and compliance officers brace ourselves and contribute to a stable economy? How can we, as compliance officers, balance the need for revenue and comply with the risk appetite in your firm?

In this session, panelists discuss these questions and more, including:

  • A review of FinCrime compliance events that have happened thus far in 2023
  • How AI is impacting our products, lives, and jobs
  • How to utilize your FI’s risk management system

The fundamental blueprint for KYC has led to a substantial amount of labor with an incongruous mixture of mind-numbing routine review and the fear of the consequences of missing critical incidents. It has been stubbornly difficult to automate these tasks due to the high variability, unstructured information, research, outreach, and judgment – until now. Perpetual KYC (or pKYC) has been discussed for years. If done right, it has the potential to greatly improve on the status quo, with PwC estimating upwards of 60-80% cost savings, not to mention other benefits like fewer touchpoints, faster customer responses, and stronger employee experience. Join this session to learn:

  • Why manual, periodic KYC is such a problem
  • What it means to transition from a traditional, periodic KYC model to a perpetual, continuous, and dynamic approach to KYC driven by AI and automation
  • How continuous monitoring can surface true risks that impact the business

To celebrate summer,we’re offering an opportunity to relax, learn and connect with your peers with WorkFusion’s Bonfire Talks Series. 
This program includes customer-driven webinars intended to educate in a relaxed format where speakers will share their automation and career journeys. Through use cases, stages, successes, and lessons learned, enjoy a candid conversation on what is and what’s next for WorkFusion customers. These webinars are meant to be engaging, fun, and informative so save your seat for the Customer Bonfire Talks Series today.

We’ve opened a new customer community. Register and join the conversation today!

Sanctions lists are constantly evolving, making them a challenge to keep up with. Failure to comply can mean large fines and reputational damage. Organizations have typically sought to meet sanctions compliance needs through incremental technological improvements (such as a new, better screening system), large increases in hiring and exiting high-risk business.  

Did you know that false-positive rates in the alerts generated by screening tools can exceed 99%? To combat this, banks directly employ or contract out dozens or hundreds of individuals to manually review these alerts. That’s a lot of people doing a lot of tedious work – which leads to the potential for human error in catching those rare true positives and overburdened teams.  

There is a better and more efficient way! 

Join us for a webinar where we’ll introduce you to WorkFusion’s AI Digital Workers, Evelyn and Tara. They are ready-to-hire automation solutions that work with leading sanctions screening software, dispositioning L1 alerts with greater efficiency and more comprehensive audit trails than teams of people. As banks minimize manual review of obvious sanction screening false positives using Digital Workers, highly trained resources can be reallocated to more pressing compliance needs. False positive reduction is as much about risk enhancement and governance as it is about cost. 

During this webinar we’ll discuss:
  • How you can easily automate the L1 sanctions screening function to review and adjudicate L1 alerts while creating a detailed audit trail
  • Success stories from major financial institutions that have used Evelyn and Tara for Name Sanction Screening and Transaction Screening
  • Product specifics through demo and conversation with WorkFusion experts