Crowe Training- Enhancing AML thru Tech

Reg Tech

• Technologies used to enhance banking and financial operations and customer satisfaction

• Technologies used by regulators and supervisors to achieve their supervisory roles.

• Technologies used to fulfill regulatory compliance and risk requirements , such as CDD, TM, STR

What is a sandbox ?

• Controlled regulatory framework to conduct compliance testing

• New Compliance regulations

• Regulatory sanctions

Which statements are true about Transaction monitoring

( Choose three)

• Detecting suspicious activities

• Could be Real Time

• Frequency and severity of suspicious transactions

• Can monitor suspicious behavior

Robotic Process automation

• Software solution for predictive analytics

• Data warehouse to provide information

• Performs repetitive tasks like STR reporting

• facial recognition

AI makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks

• True

• False

Cognitive Intelligence allows machines to interact with humans

• True

• False

Virtual digital assistants are computer programs that help by answering questions and perform basic tasks

• True

• False

What is a blockchain?

• A distributed ledger on a peer to peer network

• A type of cryptocurrency

• A centralized ledger

• an exchange

What is immutability in Blockchain?

• Running without the concept of “human trust”

• Majority of the nodes need to come to a consensus

• Data in a block in a blockchain cannot be tampered with

• Peer to peer digital ledger of transactions

API is( Choose three choices)

• an intermediary that allows two applications to interact with each other

• News service

• Computer Program

• Resulted in growth of FINTECH