DFS 504, which specifically states that Compliance Officers need to be prepared to certify that the systems used are working as required and that the data feeds into AML monitoring and OFAC filtering systems are working properly. Failure to demonstrate quality could have serious implications for the CCO, as Data Validation is now under the responsibility of the Compliance team, and for the Bank who can be charged with multi-million-dollar fines.

In this webinar, we will explore the best practices for setting up a robust data quality automation program for a financial crime unit (Fraud Prevention and AML) and talk about solutions and components (visual & analytics) that can assist the FIU/AML Investigations.

Topics Covered

• Data Quality issues within KYC
• Data Quality issues within CDD
• Data Quality issues within SAM
• Review of automation solutions to the different types of Data Quality issues