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In regulatory compliance, excuses don’t cut it. Especially when it comes to poor data.
According to a recent FinScan poll of 550 compliance professionals:
59%
said data quality is where they spend most of their time.
And it's no wonder. It costs:
$1
$100
$10
to prevent a data error at the point of entry.
to correct it during a screening batch.
to remediate it after triggers a false positive or regulatory failure.
There are a variety of reasons why tackling AML data quality may seem insurmountable. They range from cost to prioritization to lack of buy-in.
And compliance-ready data is different than data in other parts of the organization. The stakes are higher and failure is costly to both your organization’s wallet and reputation.
➢ AML data quality is a great concern and expectation of regulators·
➢ Data quality is a foundational element to a sound AML compliance program
➢ Understanding the source and reason for poor data is key to correction
➢ Data quality must be an integral part of AML risk management
To fix what is broken and append data quality to AML risk management, you first need a simpler way to address the problem.
This roundtable discussion hosted by Nexus AML and FinScan will address:
➢ The core problems poor quality data causes compliance teams and organizations overall
➢ Real-world actions you can take to solve these issues, and how you can do this without disrupting your organization
➢ The benefits of finally improving your data quality
Roundtable Leaders
Rob Cutler
Managing Director
Nexus AML
Kieran Holland
Solutions Engineering Team Leader
FinScan
Don't miss the chance. Register today!
Fill in the form below to register your interest in attending. Spaces are limited and not guaranteed. A member of a team will be in touch if you have been added to the guestlist.