Financial Crime Data Analytics Tools Prove Crucial for Businesses Operating in Laos
The Lao People’s Democratic Republic has experienced a surge in economic sanctions analyses, anti-money laundering (AML), and counter-terrorist financing (CTF) activities. As a result, businesses operating within its borders are seeking specialized expertise to navigate this complex landscape.
Combining Expertise with Technology
FTI Consulting has emerged as a trusted partner for law firms and corporations, providing cutting-edge financial crime analytics capabilities that have been tested and proven on numerous high-profile matters. Each client engagement is assigned an integrated project team comprising top practitioners with in-depth knowledge of the nuances of financial crime.
- Industry expertise: FTI Consulting’s teams combine industry experts with regulatory knowledge to provide a comprehensive understanding of the complexities involved.
- Data analytics professionals: Skilled data and analytics professionals work alongside industry experts to safeguard investigations and ensure progress along a strategic path enabled by technology.
New Analytical Methods
Augmented analytical methods, including machine learning (ML), natural language processing (NLP), and other AI techniques, have transformed how investigations are conducted today. FTI Consulting’s battle-tested technology expertise enables the firm to handle any data type, from SWIFT messages to plain-old documents.
- Extracting evidence: The firm extracts and manages evidence in a defensible, forensically sound manner.
- Advanced data analysis: FTI Consulting applies advanced data analysis techniques to uncover hidden patterns and connections within complex datasets.
Proactive Measures for Risk Management
FTI Consulting helps companies across various industries proactively manage risk and safeguard compliance using data-and-analytics-driven systems and controls. The firm’s experience enables scenario development, rules tuning, ongoing algorithm validation, and data enrichment for screening and monitoring systems.
- Interactive control performance dashboards: FTI Consulting provides management information and understanding to help identify problematic areas as they emerge.
- Adapting detection scenarios: The firm continuously adapts its proprietary detection scenarios and screening/matching technology to the specifics of clients’ ever-evolving areas of risk.
Support During Regulatory Breaches
During an event, regulatory breaches, fraud, and wider corporate malfeasance require sophisticated investigative resources. FTI Consulting is often at the forefront of uncovering industry thematic challenges, leveraging its Augmented Investigations capability set that expedites and adds new insight to various investigative scenarios.
- Harnessing network analysis: The firm uses network analysis, transaction clustering, customer segmentation, and other project-tested sophisticated ML and NLP technologies and techniques.
- Visualizing results: Patterns, clusters, outliers, and progress are visualized to present results, allowing the combination of subject-matter-expert and machine-driven issue exploration.
Post-Investigation Support
FTI Consulting supports clients beyond the investigation, from litigation support to post-matter compliance programs that reduce risk. The firm participates actively in ongoing regulatory presentations and discussions, reappraising the full benefits of its analytical and investigative work.
- Explainable analytics: FTI Consulting’s analytics experts explain how its Augmented Investigations capabilities were applied.
- Independent examiners or monitors: The team acts as independent examiners or monitors to provide ongoing assurance around agreed remediations.