9min chapter

The Peel with Turner Novak cover image

The $4 Trillion Business of Financial Crime with Natasha Vernier, Co-founder and CEO of Cable

The Peel with Turner Novak

CHAPTER

The Importance of Verifying Customer Information

This chapter discusses the importance of gathering and verifying customer information in order to prevent financial crimes. The speaker explains how they built a system to monitor transactions and identify suspicious activities. They also share instances where they detected and stopped fraudulent payments, only to be told by the bank that it was not a crime. The chapter concludes by mentioning the regulatory requirement for banks to test the effectiveness of their control measures.

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