Transaction monitoring is not working as it should, according to the Centre for Financial Crime and Security Studies (CFCS), which highlights cost as a main concern.
Matthew Redhead, associate fellow at the CFCS – part of think tank the Royal United Services Institute (RUSI) – spoke at the Sibos conference in October about the many additional expenses associated with monitoring technology, such as technical and vendor support, that can create friction with chief financial officers.
One of the biggest costs involved is getting organizational data in order.
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