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January 26, 2016
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Actionable Intelligence for Financial Services AML Compliance

Increasingly, financial services firms manage global operations across multiple countries and continents. The natural consequences of their international expansions make compliance with banking regulations more challenging.

With the proliferation of diverse financial products tailored to local markets and tighter integration between commercial and investment banking operations, compliance teams need to investigate new and different relationships in order to identify suspicious financial activities and report them to authorities.

Regulations such as the Bank Secrecy Act, the USA PATRIOT Act and the Foreign Account Tax Compliance Act require United States banks, insurance companies and capital markets firms to file Suspicious Activity Reports (SARs) if they suspect that transactions are laundering funds to support fraud, terrorist financing or other crimes.

Download the White Paper on Data Discovery for SARs

In today’s data-rich world, compliance teams face a Data Discovery challenge to distinguish between suspicious and legitimate transactions.

I’ve just published a white paper entitled “Actionable Intelligence for Financial Services Compliance.” The paper describes how financial services companies meet that Data Discovery challenge with Connected Data Platforms offered by Hortonworks, that create actionable intelligence from terabytes or petabytes of data-at-rest or data-in-motion. Modern Data Applications deliver that intelligence to compliance teams and help them identify and report suspicious transaction patterns to authorities.

Specifically, the paper covers:

  • The data landscape for Suspicious Activity Reports
  • Eight essential AML data tasks
  • The AML work streams of Customer Due Diligence, Case Management and Downstream Analytics, and
  • How Hortonworks solutions optimize SAR work streams and AML compliance activities

If you enjoy the white paper, please also join me for an upcoming Hortonworks webinar, where I will discuss the same topics in detail and take questions from participants.

Register for my AML Compliance Webinar on Wednesday, March 2

Learn More About Hortonworks for Financial Services

 

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