Designing technology systems to detect and prevent financial crime

Jas Randhawa and Suraj Swaminathan
Additional contact information
Jas Randhawa: Managing Partner, StrategyBRIX, USA
Suraj Swaminathan: Compliance Technology Professional

Journal of Financial Compliance, 2023, vol. 6, issue 4, 321-332

Abstract: Almost all early-stage financial services businesses are motivated to have a comprehensive compliance programme. However, they often need help knowing where to begin. There is much literature on enhancing existing compliance programmes and specific topics such as know your customer or transaction monitoring systems (TMS). This paper delves into the critical components required to build a functioning compliance programme and the fundamental building blocks that will set up a FinTech for long-term success. This paper is comprehensive enough to allow any company focused on financial services to pick and apply key concepts explained in the paper to build a compliance programme. At the same time, it is specific enough to help explain each component in detail so that companies can use this as a guiding principle to set up a compliance programme.

Keywords: AML; KYC; transaction monitoring; compliance technology; machine learning; FinTech (search for similar items in EconPapers)
JEL-codes: E5 G2 K2 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://hstalks.com/article/7796/download/ (application/pdf)
https://hstalks.com/article/7796/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:jfc000:y:2023:v:6:i:4:p:321-332

Access Statistics for this article

More articles in Journal of Financial Compliance from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().