Preventing Internal Fraud with Advanced Data Analytics and Artificial Intelligence

Organizations today face a number of challenges and risks which has long been accepted as part of their natural course of business. Fraud detection/prevention is one of those challenges as organizations are continuously battling fraudsters and rogue employees who target their assets, proprietary information, and profits. Fraud continues to rise in the United States as criminals seek to prey upon hard-working citizens. In a 2018 global study on occupational fraud and abuse published by the […]

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Defeating the Dynamic Money Laundering Culture with Data Science

From bootleggers hiding profits of their alcohol sales during Prohibition to terrorist organizations using trade-based money laundering techniques today, criminals survive and succeed by constantly varying their techniques to evade detection. Financial institutions, service providers, regulatory agencies, and law enforcement need aggressive, tactical, and strategic solutions to stay ahead of criminals who are decimating the integrity of the global financial system. Advanced data science, artificial intelligence (AI), and machine learning are now arrows in the […]

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Podcast: QuantaVerse Discusses the Role of Artificial Intelligence in Addressing FCPA Compliance Concerns

Last year, 45 new FCPA-related investigations were publicly disclosed for the first time, making 2017 the most active year in history for new disclosures of FCPA-related investigations. Rewind one year and take into consideration 27 companies were required to pay a paralyzing $2.48 billion in fines and penalties to resolve FCPA cases in 2016, making it the biggest enforcement year in FCPA history. These are but only two parts of a much larger force driving […]

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“Tracking the Traffickers:” A new documentary by The Economist documents how NGOs, banks and AI technology can thwart human trafficking

Human trafficking is devastating for victims, but typically low-risk for the criminals, whose activities are largely hidden from view. To disrupt human trafficking, law enforcement is partnering with NGOs, financial institutions and forward-thinking technology providers (like QuantaVerse) that offer new artificial intelligence and machine learning solutions. QuantaVerse was interviewed for The Economist’s human trafficking documentary alongside other experts including HSBC and Liberty Asia. Per the Trafficking Victims Protection Act, human trafficking is defined as:  Sex […]

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The Importance of an Effective Anti-Money Laundering Compliance Program

Creating, implementing, and maintaining an effective Anti-Money Laundering (AML) program has always been challenging, but in today’s increasingly digital, dynamic environment the task is more arduous. Given the complexity of the current AML landscape, quality data is often viewed as more valuable than gold or oil by financial institutions and non-bank financial institutions. Artificial intelligence (AI) and machine learning solutions drive compliance and audit teams to peak performance and efficiently, and effectively analyze millions of […]

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