By some estimates, the cannabis business will be $80 billion by 2022. From 2013 (the Cole memo) until 2018, the federal government was tacitly supportive of some banking activity for cannabis businesses. To date, no financial institutions have been sanctioned for marijuana/cannabis-related banking. The more time passes without enforcement actions while states continue to “legalize” medical or recreational uses, the more politically and regulatorily unpalatable strict enforcement becomes. It is important for financial institutions to have proper detection and reporting of marijuana/cannabis-related businesses whether the financial institution chooses to bank or not bank marijuana/cannabis business.
The cost of AML compliance at financial institutions is rising at an enormous rate year over year and even today little is done to alleviate the pain. With such rising AML cost, AML managers and AML investigators need to be more efficient. Designed from the ground up, Guardian Analytics AML Evidence Lake™ empowers AML investigators to improve investigation efficiencies and AML managers to save time overseeing the Smart Rules, KYC Forms, and SAR/CTR Filings.
A weaponized ML model can only be fought with ML and behavioral analytics on both transactional and non-transactional data. As a pioneer in Machine Learning and Behavioral Analytics for Fraud Detection, Guardian Analytics continuously enhances its multi-channel fraud detection model algorithms to fight conventional and weaponized ML fraud schemes.
Micro-structuring is a structuring scheme that is difficult for traditional AML rule-based systems to detect. Guardian Analytics AML solutions brings powerful new capabilities to detect and aid in the investigation of these complex money laundering schemes. Guardian Analytics AML solutions provides configurable KYC forms to prevent micro-structuring at the start, region-specific micro-structuring detection through flexible Smart Rules, and a Multi-channel Graph Link Analysis to detect the hidden relationship and movement of funds.
Build Brute-Force Attacks Prevention into Your Daily Fraud Operations Workflow with Guardian Analytics
Want to learn more about how to protect your digital banking accounts from Brute-Force Attacks? Learn how Guardian Analytics can help.
Brute-force attacks on a financial institution’s digital banking’s infrastructure can impact a significant number of customers and damage a financial institution’s reputation. Guardian Analytics can help.
Guardian Analytics Evidence Lake CDD is the solution organizations need to enhance their new customer onboarding process and gain the speed and flexibility they need to effectively and efficiently comply with AML regulations and guidance.
Machine Learning Finds the Proverbial Needle in the Haystack Machine learning is what enables these behavioral analytics to work in the background, monitoring all of the action and unique characteristics to find those items [...]
One of the many ways that Guardian Analytics machine learning helps financial institutions combat fraud is by monitoring digital banking activity.