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The E-Comms Surveillance Deep Dive - More Takeaways

About half (44%) said theyu2019re doing it and taking these types of measures because they think that the regulator expects it. Watch the infographics or visit us at https://bit.ly/3oOp6Dl

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The E-Comms Surveillance Deep Dive - More Takeaways

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  1. More Takeaways from E-COMMS SURVEILLANCE DEEP DIVE INSIGHTS ON HOW SURVEILLANCE HAD CHANGED, WAS CHANGING – AND NEEDED TO CHANGE INTEGRATION IS VERY MUCH A MY WAY- YOUR WAY THING Companysize, budget, andlevelofsophisticationall Companysize, budget, andlevelofsophisticationall influenceintegration. Somecomplianceteamsare influenceintegration. Somecomplianceteamsare focusedonimprovingtheiranalyticssothattheyget focusedonimprovingtheiranalyticssothattheyget fewerbuthigherqualityalerts. Incontrast, otherteams fewerbuthigherqualityalerts. Incontrast, otherteams areintegratingfinancialcrime, HR, socialmediafeeds, areintegratingfinancialcrime, HR, socialmediafeeds, andallsortsofotherdatatypestocreatericher andallsortsofotherdatatypestocreatericher contextualmapsthatbetterinformalerts. contextualmapsthatbetterinformalerts. REAL-TIME DOESN’T ALWAYS MEAN RIGHT NOW Apparently, manybanksareseekingreal-timedynamic Apparently, manybanksareseekingreal-timedynamic riskassessmentsolutions. Butthisisneitherpracticalnor riskassessmentsolutions. Butthisisneitherpracticalnor feasible. Changingthescopingmaptobecurrentwith feasible. Changingthescopingmaptobecurrentwith evidencecoverageisanoneroustask. Infact, it’satask evidencecoverageisanoneroustask. Infact, it’satask thatnoneofthepanelistsorattendeeswerewillingto thatnoneofthepanelistsorattendeeswerewillingto embracemorethanonceperyear. embracemorethanonceperyear. MORE INVITATIONS TO THE SURVEILLANCE PARTY Risk-based approaches seem like an ideal practice in theory, but, when it comes to their practical application, it’s a different story. Such methods can clash directly with existing regulatory practices. Those who seek to expand the population surveilled to create a more accurate risk picture face different challenges. A NATURAL PROGRESSION TO RANK JOB ROLES OR INDIVIDUAL EMPLOYEES BASED ON THEIR RESPECTIVE RISK PROFILES MACHINE LEARNING IS NOT A SILVER BULLET It’scertainlynotacheapproposition, either. Companiesareinvesting It’scertainlynotacheapproposition, either. Companiesareinvesting extraordinarysumsandlargenumbersofpersonnelintomachinelearning. extraordinarysumsandlargenumbersofpersonnelintomachinelearning. Doingsoisrequiredgiventheenormousdatavolumes, time, andeffort Doingsoisrequiredgiventheenormousdatavolumes, time, andeffort requiredtoproperlytrainthesearchalgorithms. Thisisnoeasytaskand requiredtoproperlytrainthesearchalgorithms. Thisisnoeasytaskand expertiseisinshortsupply. Nottomentiontheliteralbandwidthsuck expertiseisinshortsupply. Nottomentiontheliteralbandwidthsuck imposedbytheseeffortsasanalysesthiscomplicatedlevyahightollon imposedbytheseeffortsasanalysesthiscomplicatedlevyahightollon internetspeedandtheproductivityofeveryoneelsesharingthatethernet internetspeedandtheproductivityofeveryoneelsesharingthatethernet pipe. pipe. Fromhere, itwillbeinterestingtoseewhichpathfinancialfirmspursuein Fromhere, itwillbeinterestingtoseewhichpathfinancialfirmspursuein lightofthefindingssharedatthissummit. lightofthefindingssharedatthissummit. HTTPS://WWW.SHIELDFC.COM/

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