Investigative approaches in emerging financial crime typologies

The webinar covers emerging financial crime trends and investigative strategies for identifying and reporting suspicious activity. Three Crowe specialists provide an overview of new typologies, red flags, and monitoring techniques financial institutions can use to adapt compliance programs to the evolving threat landscape.

Presenters

• Kim Grey, Consulting
• Brianna DiMichele, Consulting
• Kaylie Storey, Consulting

Webinar topics

• The regulatory landscape continues to focus strongly on anti-money laundering compliance. Deficiencies in Suspicious Activity Report monitoring and filing are commonly cited in enforcement actions.
• Emerging technologies such as AI present opportunities for financial crime detection but also present new threats such as deepfakes that criminals can exploit.
• Investment fraud, identity fraud, and credit card scams are among the fastest-growing financial crimes. Cyberthreats like account takeovers and synthetic ID fraud are also major issues.
• Real-time payment systems are a lucrative target for fraud due to instant settlement and irreversibility.
• Bulk account opening makes money laundering harder to detect. Cybercriminals often use AI bots to automate and scale this activity.
• Financial services organizations should monitor transactions for alignment with clients’ business models. Geographic discrepancies in account activity can indicate the flow of illicit funds.
• Lack of know your customer diligence in the online banking space leaves gaps for concealed beneficial ownership and fake businesses.
• AI and machine learning can detect suspicious patterns and hidden relationships that are difficult to discover through human-only analysis.
• Banks should adapt monitoring rules and thresholds as new products or services alter their risk profile. They should add capabilities like transaction screening as needed.
• Information-sharing across functions and with other institutions is critical to understand the full risk picture.
• Organizations must remain proactive, not reactive, as criminals constantly change tactics. They should assess emerging regional risks such as sanctioned countries.

Note: Only attendees of the live webinar are eligible for CPE or CLE credit for qualifying webinars. If you view the webinar recording on this page you may not be eligible for CPE or CLE. For questions about CPE contact [email protected].

Additional CPE information.