Where is your first line of defense? standard
I recently attended a fantastic roundtable put on by Financial Times in New York and as I’m sitting listening to a group of folks that specialize in anti-money laundering and fraud, one person stated that people detected the vast majority of fraud or money laundering with tools playing a supporting role. By itself, this seems to be a bit damning toward the technical sector essentially stating that they aren’t any good at detecting fraud. Or at least their tools aren’t any good. But technology has always played a catch-up role when compared to human intuition. It could be simple things like highlighting the right statistical inconsistencies for analysts or complex things like playing chess against the world’s best, but we’re ...
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