How Financial Institutions Can Reduce False Positives With Intelligent Matching

As AML compliance requirements grow, so do the number of alerts that must be manually researched. This makes weeding out false positives increasingly necessary.

To be in compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) processes, banks and financial institutions must screen customers and transactions against various lists. As those lists and compliance obligations have grown, so too has the number of matches or near-matches that must be manually investigated. The investigations can be complicated and time-consuming, and the vast majority of alerts prove to be false positive. Financial institutions with millions of customers to screen can find the costs of compliance oppressive.

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