“Using FRAML technologies allows your institution to analyze a vast amount of data transactions and consumer behaviors, providing a holistic risk profile.” 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 New technologies are replacing outdated methods of monitoring, giving organizations an edge in stopping financial crime before it can cause financial, reputational or legal liability.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 at CSI. COME ONE, COME ALL! HAPPY HOUR & HORS D'OEUVRES FOR BANKERS & EXHIBITORS September is right around the corner where we will gather for another exciting Convention & Exhibition for our MIBA Membership, family and friends. This year's 33rd annual MIBA Scholarship Auction on Tuesday, September 12th, 2023, is at The Lodge of Four Seasons Golf Resort & Spa Shiki. We hope you are thinking about what special gift you will donate. On Tuesday, the Exhibit Hall will close at 2:30 p.m. and the Happy Hour Reception and Silent/Live auction will begin at 4:30 p.m. in the Granada Ballroom. All registered bankers and exhibitors are invited and welcome to join the "Bidding Frenzy" for all items donated! If you already have your gift to donate, call the MIBA offices at (573) 6362751 or go to MIBA.net > For Members > Annual Convention & Exhibition for your donation form. Donations to and purchases at the auction are not deductible for federal income tax purposes. The Show-Me Banker Magazine | 29
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