Leveraging Data Analytics to Combat Money Laundering and Other
Financial Fraud
NICK NICHOLS Vice President,
Compliance SolutionsDST – Moderator
JOHN YOUNG, PhDVice President,
Development and Data Science
DST Applied Analytics Group
BRIAN SQUIBB Cloud Platform Sales,
Engineering Team Lead Google
MIKE MCNALLYVice President, Customer
Protection Financial Intelligence Group
Fidelity Investments
Staggering Numbers Growing AnnuallyPenalties and Fines
Money Laundering
Global money-laundering transactions at least 2% of global GDP, or roughly $1.5T
Estimated that in the U.S., $300B generated from illicit proceeds annually
Companies spending estimated $7B annually on AML in the U.S. alone
$2.9B will be lost annually to senior financial abuse
Senior and Vulnerable Investor Abuse
!
of seniors experience financial abuse within any given 5 year period
At least
36.9%Over Since 2002, federal regulators
have imposed more than $5.4B in penalties / fines against financial institutions for alleged violations of BSA and AML regulations
What You’ll Be Hearing About
Money laundering and fraud
trends, and areas of concern
Senior and Vulnerable
Investor abuse
Leveraging broader
sources of data and analytics
Sharing of “anonymized”
data
SEC and FINRA use of data analytics
Money Laundering and Fraud Trends and Concerns
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Senior and Vulnerable Investor Abuse
Leveraging Broader Sources of Data and Analytics
SEC and FINRA Use of Data Analytics
Sharing of “Anonymized” Data
Questions?