A recent survey from the Association of Certified Anti-Money Laundering Specialists (ACAMS) reveals that “reducing false positives” is still a top concern for banks and other financial institutions (FIs). Yes, still.   The fact is, reducing false positives has been a top priority for anti-money laundering (AML) compliance leaders for decades. Just recently, a compliance leader echoed […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) requires financial institutions to report suspicious activities under the Bank Secrecy Act – particularly as they relate to money laundering. Institutions must meet anti-money laundering (AML) compliance requirements such as performing customer due diligence, monitoring customer transactions for signs of illegal activity, and filing […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

Welcome to the February 2025 summary of news you can use as your bank or other financial institution attempts to stay up to date on the world of BSA/AML compliance. Our monthly series of curated news about FinCrime regulatory developments, resources and stories.   In this edition, three main stories emerge:  TD Bank Selling Charles Schwab […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

“AI” and “Focus” are two terms that rarely have a strong correlation in the countless number of articles and marketing pitches hyping AI, GenAI, and Agentic AI today. With big tech companies dominating the airwaves of “AI speak,” one can easily get drawn into a world of esoteric spin and partially painted realities of autonomous […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

Many banking and financial services organizations have an effective compliance program in place. But, most programs are highly inefficient and rely on too many manual processes that put a strain on the workforce. As a result, organizations are adopting AI solutions to strengthen their AML operations. They recognize that AI and automation technology can manage […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

While many banking and financial services organizations may have what would be considered an effective compliance program, most programs are very inefficient, relying on manual processes and large amounts of human capital. Hiring more people — outsourcing, offshoring or temporary workers — simply will not fix the foundational challenges that have existed in financial crime […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

Welcome to the January 2025 summary of news you can use as your bank or other financial institution attempts to stay up to date on the world of BSA/AML compliance. Our monthly series of curated news about FinCrime regulatory developments, resources and stories.   In this edition, three main stories emerge:  Opposing court rulings bring confusion […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

For decades there has been an unsustainable status quo within Financial Crime Compliance (FCC). There are financial crime problems today that existed 15-20 years ago, and banking and financial services organizations have been slow in finding innovative ways to solve them.   The good news is, after years of hyped-up hope for Machine Learning (ML) and, […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

You may have seen or heard the term ‘agentic AI’ recently. What is it? The term, also known as autonomous AI, refers to artificial intelligence systems designed to operate independently with minimal human intervention. These AI agents can make decisions, plan, and adapt to achieve predefined goals.   WorkFusion was an early innovator of AI agents. […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more

An AI-driven adverse media screening alert review analyst is critical to any KYC (know your customer) program. Also referred to as a Digital Worker, the AI Agent is a technology control that both intelligently automates L1 alert reviews and easily expands the breadth of research into multiple information sources. For this reason, banks and other […] Visit WorkFusion. This content is property of WorkFusion, Inc. Any unauthorized use is prohibited ..read more