https://www.taxtmi.com/news?id=14644 Prevention centers on the Three KY Principles: Know Your Customer - substantive profiling through document verification, transaction pattern analysis, data analytics and cross-channel profiling; Know Your Employee - background checks, rotations, internal audits and ongoing vigilance; and Know Your Partner - due diligence on vendors, agents and outsourcing partners. Banks must invest in real-time analytics and intelligence, segment customers by risk, identify Red Flagged Accounts using Early Warning Signals, commission forensic audits, and adopt board-level anti-fraud governance and whistleblower mechanisms to enable timely detection and coordinated response. en-us Mon, 29 Jun 2015 11:57:01 +0530 Tue, 30 Jun 2015 09:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=14644 Prevention centers on the Three KY Principles: Know Your Customer - substantive profiling through document verification, transaction pattern analysis, data analytics and cross-channel profiling; Know Your Employee - background checks, rotations, internal audits and ongoing vigilance; and Know Your Partner - due diligence on vendors, agents and outsourcing partners. Banks must invest in real-time analytics and intelligence, segment customers by risk, identify Red Flagged Accounts using Early Warning Signals, commission forensic audits, and adopt board-level anti-fraud governance and whistleblower mechanisms to enable timely detection and coordinated response. News - Mon, 29 Jun 2015 11:57:01 +0530 https://www.taxtmi.com/news?id=14644