For many years the US banking industry has talked about the fraud and AML compliance departments working together more closely. It’s widely discussed that convergence of the two functions will support more effective financial crime management and improve operational efficiency. But it is difficult to gauge how far along the path to a single crime fighting unit most banks are. To understand the banking sectors strategies, concerns and plans for financial crime integration, FICO commissioned independent research.
About the survey:
This survey of 114 banks across 6 countries or regions, was carried out by research company Ovum. Senior management in fraud and AML compliance functions answered a comprehensive survey. The results in this e-book focus on the responses from US respondents.