The financial industry is plagued with systemic failures, and new ways of committing crime seem to be accelerating rather than decelerating.
Are we doing enough to prevent fraud and money laundering? Or are we building solutions that are mainly focused on detection? Is there a one-to-one correlation with the amount of money that you spend on these tools? Or is it rather more important the type of technology you are using?
João Moura is the CEO of Fraudio, an Amsterdam-based tech company that leverages AI, vast data sets, and real-time signals to detect and prevent customer/merchant-initiated fraud and money laundering.
In today’s episode, he joined us to reflect on how we can be more effective at combating financial crime.
Topics discussed:
- What sets Fraudio apart from than their competitors
- The state of money laundering and fraud prevention
- Why we need to democratise access to detection tools
- The impact of digitalisation on financial crime
- An overview of the three generations of fraud and AML solutions
- Regulatory frameworks in the fight against fraud
- Why compliance has transformed into a box-ticking exercise
- 3 pieces of practical advice for AML and fraud prevention professionals
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