Uncovering organised crime networks within the banking sector
Numerous investigations into the banking and finance sectors in Australia and the United States in recent years have found deep links to serious and organised criminal groups. These groups have been exploiting governance loopholes within banks to undertake activities including money laundering, fraudulent loans, insurance scams and illicit online purchases.
Much of this activity slides under the radar of banking organisations who are drowning in data and often lack the tools to effectively identify criminal networks. This places them at risk of reputational damage or legal and regulatory sanctions.