Tag: financial crimes compliance

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AI in Financial Services in 5 Stories

AI in Financial Services in 5 Stories – Week Ending June 5, 2026

Welcome to AI in Financial Services in 5 Stories. A practical weekly roundup of the five most important AI developments affecting banking, insurance, payments, asset management, and fintech. Each Friday, Tom Fox will break down the top stories that matter most through the lenses of compliance, risk management, governance, and business strategy. Designed for compliance professionals, executives, legal teams, and financial services leaders, it goes beyond headlines to explain why each development matters in a highly regulated industry. The result is a concise weekly briefing that helps listeners stay current on AI innovation while asking sharper questions about oversight, accountability, and trust.

This week’s stories include:

  1. Smaller banks are missing out on financial crime prevention tools. (FinTech Global)
  2. Top AI and Fintech firms for 2026. (Forbes)
  3. Goldman CEO on running a bank in the age of AI. (Bloomberg)
  4. AI is breaking the old banking hiring model. (techcabal)
  5. AI cyber risk is the highest risk in banking. (FT)

For more information on the use of AI in Compliance programs, Tom Fox’s new book, Upping Your Game, is available. You can purchase a copy of the book on Amazon.com.

To learn about the intersection of Sherlock Holmes and the modern compliance professional, check out Tom’s latest book, The Game is Afoot-What Sherlock Holmes Teaches About Risk, Ethics and Investigations on Amazon.com.

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Innovation in Compliance

Innovation in Compliance: Arthur Mueller on Harnessing AI to Transform Financial Crime Compliance

Innovation comes in many forms, and compliance professionals need to not only be ready for it but also embrace it. In this episode, Tom Fox visits with Arthur Mueller, a thought leader in compliance and financial crime prevention. We take a deep dive into the topic of financial crime prevention and the use of generative AI in this edition of Innovation in Compliance.

Arthur Mueller has over 20 years of experience in anti-financial crime programs across various institutions. He explains his current role at WorkFusion, where he leverages AI and machine learning to enhance compliance programs. The discussion encompasses the evolution of AML practices, the role of digital workers like Tara in automating routine tasks, and the benefits of AI in improving risk management, efficiency, and worker satisfaction in financial services. Arthur provides real-life examples of how AI can help mitigate risks, streamline operations, and enhance employee productivity and retention.

Key Highlights

  • Evolution of AML and Financial Crime Programs
  • WorkFusion’s Role in Financial Crime Prevention
  • Digital Workers and AI in Compliance
  • Adverse Media Screening and Automation
  • Introducing Tara: The Digital Payment Screening Analyst
  • The Future of AI in Financial Crime Compliance

Resources:
Arthur Mueller on  LinkedIn

WorkFusion

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Compliance Into the Weeds

Financial Crimes Compliance Costs


Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week Matt and Tom take a deep dive into the recent report from LexisNexis Risk Solutions about the costs of financial crimes compliance and its implications for ABC compliance professionals. Some of the issues we consider are:

  • What costs have gone up?
  • Why have the costs for financial crimes compliance increased?
  • What areas are the costs centered?
  • Did the costs increase due to the pandemic?
  • What does this mean for other compliance disciplines going forward?

 Resources
Matt in Radical Compliance
Financial Crimes Compliance Cost Keeps Going Up 
LexisNexis Report – True Cost of Financial Crime Compliance Global Report