Larry Gordon and Kathleen Gowin of Endurance Advisory Partners describe how predictive KYC can help mitigate risks. Traditional KYC looks at past activities or events to determine the initial risk profile that drives bank monitoring and observations. “Predictive KYC evaluates more than the individual customers activities by evaluating their related ecosystem to determine if there are any additional risk influences that should be monitored,” Gordon says. In a joint video interview with Information Security Media Group, Gordon and Gowin discuss new tools banks are deploying to fight against money laundering.”]
Source: https://www.cuinfosecurity.com/role-predictive-kyc-in-fighting-money-laundering-a-16369