FinCEN Calls on Financial Institutions to Protect Consumers from COVID-19 Fraud
JULY 10, 2020
Key Takeaways It's important for financial institutions to find a balance between detecting suspicious activity without being so broad that BSA professionals are bogged down with false positives. Rules-based and behavior-based approaches both have pros and cons when used exclusively. To zero in on suspicious activity, typologies can be used to more accurately assess behaviors.