represent the flow of laundered money. Picking out which customers and transactions fall into these categories is like finding the proverbial needle in a haystack. That’s why it’s critical to have an effective AML solution to detect suspicious activity, stop the flow of laundered money and avoid costly regulatory fines — especially as BSA/AML scrutiny grows. Moving Forward with FRAML The fight against fraud and money laundering is never ending, and banks of all sizes can be overwhelmed by the sheer volume of criminal attempts and the complex regulations surrounding them. Failure to live up to this expectation to protect your customers’ data can lead to regulatory fines and reputational damage that causes further financial harm beyond the costs associated with fraud itself. But criminals are not the only ones evolving. New technologies are replacing outdated methods of monitoring, giving organizations an edge in stopping financial crime before it can cause financial, reputational or legal liability. And implementing a cohesive FRAML strategy is the most efficient and effective way to tackle fraud and AML compliance. Scan the QR code to read our white paper on incorporating the use of both AI and machine learning in your bank’s approach to FRAML. https://www.csiweb.com/what-to-know/ content-hub/whitepapers/fraud-hitskeep-coming/ Ankur Shah is a Strategic Product Manager for the anti-money laundering (AML) and fraud offerings at CSI. He is a subject matter expert in investment banking operations and AML compliance. Before joining CSI, he was a senior product manager at SAS and Nice Actimize. Ankur has established proficiency in stakeholder and relationship management. ANNOUNCEMENTS Citizens Bank of Kansas (CBK), Kingman, is pleased to announce the addition of Gary Renberger and Sarah Keeny Moon to the Board of Directors. Mark Keeny and Kyle Russell are celebrating 30 years of banking leadership at CBK, congratulations! The Independent Community Bankers of America (ICBA) has recognized Stephanie Schwilling, Citizens Bank of Kansas in Winfield, as a 2023 40 Under 40 Community Bank Leader. Stephanie Schwilling joined CBK in 2014 and has advanced to her current role as Senior Branch Manager and Mortgage Loan Officer. Stephanie is passionate about giving back to the Winfield community. In addition to providing financial literacy within the schools and the community, Stephanie volunteers in a variety of organizations including Habitat for Humanity, Elevate, Rotary Club, Lion’s Club and Youth Entrepreneurs. NEW ASSOCIATE MEMBER Allied Business Solutions We are Allied Business Solutions and for over 30 years we have helped organizations of all sorts and sizes save and collect money back on their telecommunication bills. We don’t work for the telecom companies; we work for our clients. With an extensive background in the telecom industry, we know all the tricks of the trade and what to look for. Our average monthly savings are over 30%, and we successfully get back refunds for all the wrongly and overbilled charges that have been going on for years! That’s tens of thousands of dollars put back into our client’s pockets! The best part is there are no out-of-pocket costs for our services. We only share a portion of the savings we find; if there are no savings, there is no cost. No changing of vendors, no risk, just huge rewards — our clients agree it pays to utilize Allied Business Solutions. 19 In Touch
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