Since 1903, Lewis Roca has been working with financial institutions. We help community banks, regional banks, national banks and their holding companies navigate an increasingly complex business and regulatory terrain. DEDICATED TO SERVICE Lewis Roca Rothgerber Christie LLP This material has been prepared for general advertising purposes only. Karen L. Witt Partner kwitt@lewisroca.com 303.628.9586 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/contenthub/whitepapers/fraudhits-keep-coming/ transaction processed could 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 New technologies are replacing outdated methods of monitoring, giving organizations an edge in stopping financial crime before it can cause financial, reputational or legal liability.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. 16 | INDEPENDENT REPORT
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