The New Face of Know Your Members: Artificial Intelligence

Presented by

The New Face of Know Your Members:

Artificial Intelligence (AI) & Facial Recognition

Presence in AML/CFT Compliance

Onboarding & Ongoing Monitoring

June 21th, 2021

© 2021 ComplianceAid

ANTI-MONEY LAUNDERING & COUNTER TERRORISM FINANCING EDUCATION, RESOURCES & ADVISORY SERVICES

https://complianceaid.pro© 2021 ComplianceAid

Artificial Intelligence (AI) & Facial Recognition Presence in AML/CFT

Compliance Onboarding

Know Your Member (KYM)

Contact us:

+ 1 (305) 772-9712

[email protected] LAUNDERING &

COUNTER TERRORISM FINANCING EDUCATION,

RESOURCES & ADVISORY SERVICES

© 2021 ComplianceAid | https://complianceaid.pro

KYM is a process that enables Credit Unions to know/understand their members in order to serve them better.

Know Your Member (KYM)

Contact us:

+ 1 (305) 772-9712





Identify

Verify

Proof of Address

Due Diligence

Onboarding a New Member Relationship

Ongoing Monitoring

Facial Recognition & Know Your Member

Contact us:

+ 1 (305) 772-9712





Facial Recognition Onboarding Process

Member o Identificationo Verification

Know Your Member Identification

Contact us:

+ 1 (305) 772-9712





Non face to face members


Contact us:

+ 1 (305) 772-9712





Member Identity - ID Facial Recognition Identity Verification


Contact us:

+ 1 (305) 772-9712





Facial RecognitionFraud Protection - Identity

Theft

AI & Know Your Member

Contact us:

+ 1 (305) 772-9712





AI Member Due Diligence Comprehensive and complete view of a member’s

relationship and transactions/activities

Perform document verification in seconds to validate

members information for example, workplace, physical

address, etc.

AI and KYM

Contact us:

+ 1 (305) 772-9712





AI KYM Alerts (gaps in member profile)

AI Member Risk Rating

AI On-going Monitoring

AI & Know Your Member

Contact us:

+ 1 (305) 772-9712





Artificial Intelligence Efficient VerificationFinancial Crimes, Scams

Cybercrimes



Artificial Intelligence (AI) & Facial Recognition Presence in AML/CFT Compliance in Ongoing Monitoring



AI and High-Risk Members

AI and High Risk Members

Contact us:

+ 1 (305) 772-9712





High Risk Members (HRM)

Politically Exposed Person (PEPs) one category of High-Risk

Members


Contact us:

+ 1 (305) 772-9712





AI Ultimate Beneficial Owners (UBO)

Identify changes in beneficial ownership structures


Contact us:

+ 1 (305) 772-9712





AI Systems:

Mine huge volumes of data for risk-relevant facts

Efficient process of identifying, verifying and on-going

monitoring of high-risk members


Contact us:

+ 1 (305) 772-9712





Enhanced Due Diligence (EDD)

AI and EDD

o Read vast amounts of data (structured/unstructured) in

seconds/minutes



AI and Investigation/ Suspicions Activity Reports

AI and Investigation/ SAR (STR)

Contact us:

+ 1 (305) 772-9712





AI Interpretation and Link Analysis

AI and Transaction Monitoring

Contact us:

+ 1 (305) 772-9712





reduce operational cost

no drawback to effectiveness by using

machine learning techniques at various steps

of the transaction monitoring process.



AI and Sanction/ Terrorism

Sanction & Terrorism

Contact us:

+ 1 (305) 772-9712





Screen members during the onboarding and on an on-

going basis

Report to FIU/FIA

AI and Sanction/Terrorism

Contact us:

+ 1 (305) 772-9712





AI Identify changes in Sanctions/Terrorist Lists

AI Minizmize false positives

AI, Facial Recognition & Know Your Member

Contact us:

+ 1 (305) 772-9712





AI and Facial Recognition Value in KYM:

Efficient and Effective Process

Save time and effort

Quickly analyze large volumes and different types of data

Allows to focus on higher priorities

Contact us:

+ 1 (305) 772-9712





Questions?

Contact us:

+ 1 (305) 772-9712





The seventh ComplianceAid: Anti-Money Laundering & Financial Crimes and the fifth AMLFC Institute Conferences will

be held April 20th -22nd, 2022, at the JW Marriott Marquis Miami, Florida.

These are the only conferences targeting regulated entities, regulators and government agencies of the Americas.

These conferences address the particularities of operating a business in the Caribbean basin. It will equip participants

with useful knowledge they will be able to implement within their organizations. A group of high-profile regulators from

the Caribbean basin and compliance experts with ties to the region will address challenges faced by regulated

businesses. Unlike any other, this conference address the issues from a non-U.S. point of view.

2022 format is a series of 60 minutes sessions divided in 3 parts of 20 minutes; a speaker’s presentation, an interview

with a moderator and a Q&A period.

Discounts available through associations (Caribbean Confederation of Credit Unions (CCCU)

Register on the web at https://complianceaid.pro

Contact us:

+ 1 (305) 772-9712





ComplianceAid is an international consulting firm specializing in Anti-Money Laundering (AML),

Countering the Financing of Terrorism (CFT), Countering the Financing of Proliferation (CFP)

and Financial Crimes Prevention (FCP).

The firm offers Advisory & Intelligence Services, Training Programs and Solutions.

Its clients are located in sixty-one (61) countries and territories located across the Americas

including the United States, Canada, United Kingdom and Europe. Their sizes range from Micro

businesses to Fortune 500 Corporations and are active in over thirty-one (31) regulated

industries.

Contact us:

+ 1 (305) 772-9712





ComplianceAid offers the following products and services to assist Regulated Entities & NPOs with their obligations under the AML-CFT laws:

AML-CFT Policies and Procedures

o In-House design, development, implementation or enhancement

o Templates Package tailored to your industry to include 18 Mitigation Tools (e.g. KYC Checklist, Customer Risk Profile)

Training – In-house or Online

o Annual (Entire staff)

o Board of Directors/ Senior Management

o Specialized Front Office

o Specialized Audit

o Specialized Compliance Officer

AML-CFT Risk Assessment (Business and Customer Risk)

AML-CFT Independent Audit

Diagnostic, Advisory and Implementation Services on Foreign Account Tax Compliance Act (FATCA/CRS)

De-Risking Corresponding Banking Services

General Data Protection Regulation (GDPR)

Contact us:

+ 1 (305) 772-9712





The AMLFC Institute offers professionals, regulators, law enforcement the opportunity to earn

certifications in the field of AML, CFT and FCP. It partners with a network of universities promoting quality

education and high standards of ethics.

Its global certification scheme produces a wider pool of knowledgeable workers that is recognized

internationally.

The AMLFC Institute’s curriculum delivers to the marketplace individuals with practical knowledge of the

field, able to work for the private sector, regulators, enforcement agencies and governments.

For more information: https://amlfc.institute

E-mail: [email protected] Telephone: +1 (786) 538-6260

Contact us:

+ 1 (305) 772-9712





Anti-Money Laundering, Countering the Financing Terrorism & Financial Crimes Prevention

Countering the Financing of Terrorism

Fraud Risk Management

Cybersecurity

FinTech

Regulatory Anti-Money Laundering & Financial Crimes Prevention

Foreign Corrupt Practices Act (Anti-Bribery-Anti Corruption)

Human Trafficking

For more information: https://amlfc.institute


Certification Programs

Contact us:

+ 1 (305) 772-9712





theList.pro has a strategic partnership with Domus Semo Sancus (DSS) for the product

SafetyNet. DSS is the developer of SafetyNet.ai, an award-winning enhanced due

diligence (EDD) cognitive search and crime prevention tool used by several Fortune 500

companies.

SafetyNet with thelist.pro, is your ultimate customer screening application to support your

KYC, Due Diligence Process, Global PEPs, Sanctions and Watchlist Coverage and more.

For more information: http://theList.pro


Contact us:

+ 1 (305) 772-9712





Thank You

Documents

The New Face of Know Your Members: Artificial Intelligence