Tag: fraud prevention

Sunday Book Review: July 28, 2024, Books on Fraud Edition

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Post date July 28, 2024
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In the Sunday Book Review, Tom Fox consider books that would interest the compliance professional, the business executive or anyone who might be curious. It could be books about business, compliance, history, leadership, current events or anything else that might interest me.

In today’s edition of the Sunday Book Review, we look at business top books on policies and procedures.

The Fraud Practitioner’s Handbook by Alan Doig
Practical Fraud Prevention by Gilit Saporta and Shoshana Maraney
Fraud Investigation Reports in Practice by Petter Gottschalk
A Short Guide to Fraud Risk by Martin Samociuk and Nigel Iyer

For more information on Ethico and a free White Paper on ROI for your compliance program, click here.

Tags fraud, fraud prevention

Innovation in Compliance

Innovation in Compliance: Matt DeLauro on Enhanced Efforts Against Financial Crimes

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Post date March 26, 2024
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Innovation takes many forms, and compliance professionals must be ready for and embrace it.

Today, Tom Fox visited with Matt DeLauro, SEON’s Chief Revenue Officer. Matt discussed the SEON software solution for fraud risk and anti-money laundering.

Matt DeLauro is a financial industry veteran with over two decades of experience specializing in developing and implementing software solutions for various financial entities. With a focus on financial services and fintech, he currently serves as the chief revenue officer at SEON, a company dedicated to fraud prevention and anti-money laundering (AML) technology.

DeLauro’s perspective on AML regulations stems from his deep understanding of the fraud community’s interconnected nature and the increasing importance of AML measures due to factors like international conflicts and national security threats.

He emphasizes the need for real-time detection services and robust compliance controls in the face of evolving threats, highlighting the impact of sanctions and sanctioned individuals on the need for enhanced compliance.

Ultimately, DeLauro views AML as a critical tool in combating financial crimes and preserving the integrity of the global financial system.

Key Highlights:

Enhanced Efforts Against Financial Crimes
Real-time Fraud Detection in Financial Services
Automating SAR Generation with Machine Learning
Real-time Fraud Detection through Device Fingerprinting
Sub secondary Detection of Fraudulent Transactions in Real-Time

Resources:

Matt DeLauro on LinkedIn

Tom Fox

Tags AML, fraud prevention, Matt DeLauro, SARs, SEON

Data Driven Compliance

Data Driven Risk Management and Fraud Prevention

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Post date February 27, 2024
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Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than Tom Fox’s award-winning podcast, Data-Driven Compliance. This podcast features an in-depth conversation about the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I take a solo turn to explore how data-driven compliance has moved from cutting-edge compliance to part of a best practices compliance program to becoming table stakes to do business in a multi-national world.

AI and data-driven compliance solutions are revolutionizing risk management and fraud prevention practices, offering advanced analytics, machine learning, and automation to enhance decision-making processes, improve efficiency, and proactively address compliance risks. These tools are essential for companies to navigate the complex regulatory landscape. Understanding the transformative power of data-driven approaches in compliance and risk management is critical for every compliance professional. User adoption is critical, for even the most advanced technology will not be effective if not embraced and utilized by compliance professionals. There is also a need to balance automation and human judgment to ensure the effectiveness of these tools in risk management.