According to a recent study, India alone has 53% of corporations that have been victims of financial crime in the past one year out of all financial crimes globally.
Today most organizations are accelerating the use of digital technologies, they are constantly adding new cloud solutions, applications, and digital tools to support growing needs & provide better customer experience. As businesses are leveraging technologies to transform “the attack surface is getting much, much larger,”

Financial crime is one of the biggest challenges faced by corporations globally. It is difficult to identify, measure, and combat since it has multiple facets and frequently goes unreported. Banks & financial services companies, thus need sophisticated tools and technologies to monitor and track financial crime and the transactions they undertake.

Governments around the world are trying to fight back, and a quarter of banks think the cyber risk is the top threat in the industry. Regulators are cracking down and the penalties for banks are growing in severity. The efforts required to keep criminals out of the system and meet changing regulatory expectations have made technology an essential driver for a sustainable fight. Failing to find and stop transactions with sanctioned organizations can be catastrophic to a financial organization.