Countries have long fought financial crime by relying on financial institutions (FIs) to identify and report suspicious transactions. This system is largely ineffective because it rarely provides useful real-time feedback—a reality that is giving way to a more collaborative approach. This challenge is starting to...

Compliance systems’ technical limitations are both well-documented and perpetually frustrating to banks, corporations and regulators. Many of today’s technology firms and consultants promise regulators and banks that the current system is sustainable and that the inherent inefficiencies of standard operational processes can be cured...