NICE Actimize, a NICE (Nasdaq:NICE) business and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, is launching its latest anti-money laundering webinar series on February 22 that will address recommended risk-based safeguards for transaction monitoring programs that provide operational efficiency, cost savings, and agility. The webinars will also review recent regulatory requirements and discuss their impact on data lineage requirements and validation, along with best practices that result in repeatable transaction monitoring processes.

The transaction monitoring-focused webinar series will feature market analysts and industry experts from the anti-money laundering community. In the first webinar, Andy Schmidt, CEB TowerGroup Research Director and Principal Executive Advisor, will lead a discussion on the factors that foster a fragmented view of anti-money laundering across organizations and how strategic consolidation can reduce risk and overall cost reductions in compliance. NICE Actimize’s Trevor Barritt, Global Principal, AML Solutions, and Tom Berkovitch, AML Director of Product Marketing will also chair sessions in the webinar series.

According to David Kwan, VP and General Manager, Anti-Money Laundering, NICE Actimize, “Compliance executives are facing greater personal liabilities in their regulatory related activities, and it is key to show consistency, reliability and accuracy across an enterprise in order to manage that risk. Our webinar series will explore many of the critical issues associated with developing and implementing a risk–based AML strategy that helps provide a stronger risk-based transaction monitoring strategy.”

The Transaction Monitoring Webinar Series will be conducted monthly as follows:

• Consolidation for Increased Efficiency (February 22): NICE Actimize and Andy Schmidt of CEB Tower Group will discuss how a consolidated view of an AML strategy across an organization leads to a modern infrastructure that provides a clearer view of risk and permits a more repeatable monitoring process.
• Agility for Increased Responsiveness (March 29): Lead by NICE Actimize’s Tom Berkovitch and Trevor Barritt, this installment in the series will focus on the drivers for increased agility in transaction monitoring. A case study will show how the implementation of terrorist financing safeguards can be created by leveraging existing AML controls.
• Completeness in Data Lineage and NYDFS 504 (April 26): Tom Berkovitch will moderate a review of regulatory requirements around data lineage, focusing on guidance provided by New York State Department of Financial Services (NYDFS) ruling 504 which took effect on January 1. The NYDFS adopted a risk-based anti-terrorism and anti-money laundering regulation that requires regulated institutions to maintain programs to monitor and filter transactions for potential Bank Secrecy Act (BSA) and anti-money laundering (AML) violations and prevent transactions with sanctioned entities.