Thomson Reuters

From adoption to precision: Managing both false positives and false negatives in Adverse Media searches

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Over the past ten years, the level of regulatory scrutiny of financial services firms’ financial-crimes compliance has expanded significantly, with regulators around the globe taking scores of enforcement actions and levying $36 billion in fines.

Many financial institutions have scrambled to implement effective remediation efforts, and as a result, staffing levels in the area of financial crime investigation and analysis have greatly increased. Innovative techniques and processes to combat financial crime have also evolved; in particular, adverse media searches have become an even more critical screening practice. The same goes for non-financial industries where screening people and businesses is crucial to help minimize supply chain risk.

However, the early phase of technology and skilled analysis rollouts has been plagued by a problem of too much information.

In an effort to capture every possible impropriety, banks and other non-financial industries are collecting too much data and now must consider the problem of managing both false positives and false negatives and often need help in focusing on what is most relevant and valuable to their searches.

In this webcast with industry experts from Thomson Reuters and WorkFusion we'll cover:

The growing importance of adverse media searches
How technology can drive greater precision in due diligence
How institutions can improve their search prowess

Busy at this time? Register anyway! We’ll send you a copy of the webinar recording to watch at your leisure after the event has aired.

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Speakers:

Art Mueller

VP, Financial Crime

Workfusion

Art Mueller has more than 20 years of experience working in Financial Crimes programs across a number of global financial institutions including Rabobank, Commerzbank, UBS, and American Express. Most recently he was the Head of AML and Sanctions for Rabobank, North America. Art has now brought that experience and in-depth knowledge of AML and Sanctions processes and technology to WorkFusion and its customers in order to help them to streamline, simplify, and optimize these functions to effectively and efficiently fight financial crime. Art has a law degree from Albany Law School and a Bachelors of Science in Business Management from St John's University.

Amanda Dupont

Public Records Product Expert

Thomson Reuters

Amanda has over 25 years of professional experience in the legal industry and is a highly experienced investigative researcher and speaker. She is a CAM-certified licensed attorney and practiced law in Minneapolis for over eight years where she represented businesses in all types of legal advising roles. Amanda joined Thomson Reuters in 2006 and has held roles throughout the business. Since 2010, Amanda has worked exclusively in Thomson Reuters’ public records and due diligence solutions. As Public Records Product Specialist, Amanda works closely with both Thomson Reuters’ customers as well as Thomson Reuters New Product Development team to help develop innovative solutions in the public records and due diligence space to solve customers’ key challenges, including Thomson Reuters’ flagship Risk & Fraud solution, CLEAR.

Moderator:

Zac Sheldon

National Director - Sales & Marketing

Thomson Reuters

Zac Sheldon has been with Thomson Reuters since 2000. Mr. Sheldon started in our Law Firm Division in Northern California and moved to our Corporate-GRC division in 2009. In 2014 Mr. Sheldon moved to the Thomson Reuters Financial Risk & Fraud Division, currently serves as our National Financial Industry Specialist working with Credit Unions, Banks and Fintech Companies around the country.