Cutting-edge tech key in race against fraudsters
Banking on the go: Continuous monitoring of customer activity to reassess risk in near real time is where the industry is headed.
Fighting fraudsters is an eternal battle in a fast-changing landscape. Standing four-square on the front line of electronic security are know your customer (KYC) and anti-money laundering (AML) initiatives. But are they enough?
“The twin pillars of know your customer and transaction monitoring are still the primary bulwarks to combat bad actors,” says Kieran Towey, managing director in management consulting at KPMG.
