EP 12 - Featurespace’s Dave Excell: Why Financial Crime Prevention is a Joint Effort Future of KYC Compliance

If financial criminals are always one step ahead, what should organizations be doing to catch up with the bad actors?

Today‘s guest has one simple yet powerful answer: working together. If fraudsters and financial criminals are cooperating with each other by sharing technology, analytics and information to succeed in their schemes, wouldn‘t it be logical for organizations to do the same?

Dave Excell is the founder of Featurespace, a company using machine learning and Adaptive Behavioral Analytics in the fight against complex fraud and money laundering. In today‘s episode, he shines a light on why organizations should join their efforts to prevent financial crime.

Topics discussed in this episode:

- How the world of money laundering has evolved over the years
- How effective regulatory engagement is at present
- Why we should enable information sharing between institutions
- The potential dilemma between data privacy and data sharing to prevent financial crime
- How AML and fraud prevention teams are working much closer
- What the world of financial crime prevention will look like in the near future
- Key points organizations are looking to improve in the fight against financial crime
- 3 Pieces of practical advice for fraud prevention and AML professionals