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How AI helps prevent fraud and false positives—without replacing compliance professionals

Abrigo

Artificial intelligence (AI) is transforming fraud prevention AI offers financial institutions a way to reduce false positives, detect fraud faster, and improve suspicious activity monitoring. Staying on top of fraud is a full-time job. Let our Advisory Services team help when you need it.

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Fraud and AML integration: Is the FRAML approach right for your financial institution?

Abrigo

Evaluating the FRAML approach For years, financial institutions have debated the merits of combining fraud and anti-money laundering (AML) functions into a single department in what's known as a FRAML approach. With such heightened scrutiny on fraud, keeping AML and fraud teams siloed may not be sustainable.

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How to prevent internal fraud at your bank or credit union

Abrigo

How to prevent internal fraud at your bank or credit union Of the many fraud risks banks and credit unions face, one of the most costly comes from within the institution itself. ACFE reported that 5% of an organizations revenue is lost to internal fraud each year, with an estimated $3.1 billion in total losses.

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Fraud typologies all financial institutions should know

Abrigo

Can your AML/CFT and fraud staff recognize these fraud typologies? The technology used to perpetrate financial crimes may be changing, but these common fraud typologies aren't going anywhere. This is a nearly 10% increase in complaints received and a 22% increase in losses and thats just fraud that was offically reported.

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Investment accounting compliance: How technology helps

Abrigo

Meeting investment accounting and reporting requirements The right technology tools can help institutions manage investment accounting compliance and risk exposure across various investment types. Compliance with investment accounting and reporting requirements plays a central role in ensuring operational efficiency and regulatory adherence.

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Wire fraud: What it is and how to prevent it

Abrigo

Wire fraud is the second highest fraud scam impacting financial institutions As fraudsters continue to refine their tactics, financial institutions must remain vigilant to protect both their clients and employees from evolving wire fraud schemes. Understanding wire fraud is the first step to preventing it.

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Celebrating FinCrime Fighter Day: Honoring the heroes of financial security

Abrigo

Say "thank you" this National FinCrime Fighter Day BSA professionals and financial crime fighters are tasked with the challenge of protecting our financial system daily. October 26 is National Financial Crime Fighter Day , and it’s the perfect time to pause and applaud everything these professionals do.

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