While criminals have become more advanced and use more sophisticated technology, those fighting them now have many more tools of their own. Crucially, industry players are also learning how to collaborate, communicate and innovate. Financial institutions are becoming more savvy, with a more astute understanding of what constitutes value. They know that by leveraging technology and data insights effectively, they can protect themselves and their customers and comply with the law. But many of the tools they have just aren’t up to the job and/or cost too much to run, making lower cost of ownership and solution affordability increasingly critical.

https://www.chartis-research.com/financial-crime/7947142/financial-crime-and-compliance50-2024