May
09
Fraud Prevention Webinar: Detecting Mule Accounts & Application Fraud in Real-time
About

Banks are exposed to criminal acts committed without the knowledge of unsuspecting victims who are being used as ‘mules’, or by fraudsters attempting to open legitimate accounts to pass funds through. This activity can be used to fund terrorism, human trafficking and organized crime.

The Challenge

While multiple AML rules and scenarios apply to this, the main technical issue is that transaction monitoring systems alerts are usually delayed, and therefore are not able to detect the transfer and stop it on time. Additionally, existing fraud solutions don’t cover these scenarios, as they focus mostly on attempts to gain access to accounts and to fraudulently remove funds from them. Misdetection of such accounts can lead to account/system breaches, increased risk to compliance and large fines.

The Solution

During this webinar, Pitney Bowes and Matrix-IFS will explore the threats of Mule Accounts and present a cost-effective solution, that combines data analytics and model tuning to detect and stop them, when it counts.

Talking Points:

• The complex threat of Mule Accounts within the wider Financial Crime landscape
• Mule Accounts & application fraud detection challenges
• A multi-dimensional platform that improves data quality, integrates disparate data, appends location intelligence, and delivers decisive

audience

Chief Compliance Officers, MLROs, Chief Risk Officers, Senior Managers of Compliance, AML, Risk, Compliance IT & Risk Analytics.

date & time
Thursday, May 09, 2019
location
This is a webinar - a link will be sent to your email after registration
ADD TO CALENDAR 05/09/2019 10:00 AM 05/09/2019 11:00 AM IST Fraud Prevention Webinar: Detecting Mule Accounts & Application Fraud in Real-time

Banks are exposed to criminal acts committed without the knowledge of unsuspecting victims who are being used as ‘mules’, or by fraudsters attempting to open legitimate accounts to pass funds through. This activity can be used to fund terrorism, human trafficking and organized crime.

The Challenge

While multiple AML rules and scenarios apply to this, the main technical issue is that transaction monitoring systems alerts are usually delayed, and therefore are not able to detect the transfer and stop it on time. Additionally, existing fraud solutions don’t cover these scenarios, as they focus mostly on attempts to gain access to accounts and to fraudulently remove funds from them. Misdetection of such accounts can lead to account/system breaches, increased risk to compliance and large fines.

The Solution

During this webinar, Pitney Bowes and Matrix-IFS will explore the threats of Mule Accounts and present a cost-effective solution, that combines data analytics and model tuning to detect and stop them, when it counts.

Talking Points:

• The complex threat of Mule Accounts within the wider Financial Crime landscape
• Mule Accounts & application fraud detection challenges
• A multi-dimensional platform that improves data quality, integrates disparate data, appends location intelligence, and delivers decisive

This is a webinar - a link will be sent to your email after registration ,

Event Registration