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Results for tag: "AML Model Validation"

AML Model Validation: A Critical Need in the New Regulatory Environment - Webinar (Recorded) - Product Thumbnail Image

AML Model Validation: A Critical Need in the New Regulatory Environment - Webinar (Recorded)

  • Webinar
  • March 2022
  • 60 Minutes
  • Global
  • 1 Results (Page 1 of 1)
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The Anti-Money Laundering (AML) Model Validation market within the banking sector is a rapidly growing industry. It is designed to help financial institutions comply with the regulations set by the Financial Action Task Force (FATF) and other regulatory bodies. The main purpose of AML Model Validation is to ensure that the financial institution’s AML models are accurate and effective in detecting suspicious activities. This is done by validating the models against a set of criteria, such as accuracy, completeness, and consistency. The validation process also includes testing the models against a variety of scenarios to ensure that they are able to detect suspicious activities. The AML Model Validation market is highly competitive, with many companies offering services to financial institutions. Some of the major players in the market include Accuity, Fiserv, LexisNexis Risk Solutions, NICE Actimize, SAS, and Verafin. Show Less Read more