Anti-Money Laundering (AML) , Cybercrime , Fraud Management & Cybercrime

Leveraging Technology to Fight Money Laundering

Aite Group’s Colin Whitmore on Taking the Right Steps
Colin Whitmore, senior analyst at Aite Group

Financial institutions can leverage network link analysis and dynamic segmentation to help in the fight against money laundering, says Colin Whitmore, senior analyst at Aite Group.

See Also: OnDemand | Understanding Human Behavior: Tackling Retail's ATO & Fraud Prevention Challenge

“It is easy to understand these concepts at a high level, but hard to [know] what data we need to use,” Whitmore says. “Is it data from customers, data from existing systems, transactional data, internal or external data or social media data?”

Financial institutions must integrate new technologies into their core processes and systems, he stresses.

In a video interview with Information Security Media Group, Whitmore also discusses:

  • Technologies that can help in the fight against money laundering;
  • Challenges involved in implementing network link analysis;
  • A case study of a bank tackling money laundering risks.

Whitmore is a senior analyst in Aite Group’s fraud and anti-money laundering practice. He has more than 20 year experience within financial services, working in the United Kingdom with firms including Thompson Reuters, Aviva, Barclays the Royal Bank of Scotland and HSBC.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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