Financial crime

It's a great point.

In financial crime, so if you look at cyber, AML, and fraud, we've felt for a number of years now that financial crime is not an area you can battle with people alone.

and the old way that you need, absolutely need technology applied to it and AI to be a key part of it.

In our cyber department, we actually built an AI practice four years ago and that's grown and grown and you know, to build some of our own AI tools to look at the very front end so that we can, if you looked at RBC as being the earth with an atmosphere above it, then we'd like to deflect as much bad traffic at the atmospheric level before it can actually even land in the water.

The demands on reporting for us are far higher than they had been even two years ago.

So ensuring we're collecting and accurately reporting and creating the reports, far more accurate there.

And then even things like using for safety and soundness inside the bank, which is outside of financial crime, but business continuity and recovery planning.

Business continuity and recovery planning is not about recovering a specific component of your technology.

Prosecutors said the settlement money was diverted instead of reaching the people for whom it was meant.

Alex ultimately admitted financial crimes involving clients and others, including schemes connected to the Satterfield settlement.

The wrongdoing was not merely a matter of rich people losing money.

It involved families who had suffered serious losses and then trusted him to act honestly.

But that evidence belongs to the next stage of the story.

For now, it is enough to understand the world in which the killings occurred.

A powerful surname, a legal career built on trust, a family under pressure and a set of financial crimes that had not yet been fully exposed.

Shortly after 10 o'clock that night, Alex Murdoch called 911.

I'm your host, Margarita Beal.

Joining us today to talk about AI-enabled fraud are Christine Kieffer, Senior Vice President of Investor Education and President of the FINRA Investor Education Foundation, and Mayur Patel, Director, Financial Crimes Intelligence, Strategic Intelligence.

Mayor and Christine, welcome to the podcast.

Thank you.

They're not gonna lead to people ending up in bracelets.

You know what will? The many financial crimes that all these scumbags were engaged in.

While Jeffrey Epstein never shared details directly, his brother said he was certain his brother also had dirt on Trump.

Trump called Jeffrey Epstein a terrific guy in 2002 interview with New York Magazine, adding that the pair shared an affinity for beautiful women.

And then, again, as you also said, purpose.

I think we're lucky that there's kind of this built-in purpose in FinCrime.

And I could feel that as well when I started in this industry, right? That, well, yeah, I'm doing something for society, right? Which for me personally also is really important.

But there are these things.