IDG Survey Reveals Manual Risk and Compliance Challenges
Leading researchers at IDG recently surveyed more than 50 high-level IT and business executives at mid- to large-size companies to learn more about their governance, risk, and compliance practices. One key takeaway from the survey is that manual data collection, analysis, and reporting can create unnecessary burdens that reduce the accuracy and efficiency of investigations into money laundering and other suspicious financial activity.
In fact, 88% of survey respondents report that they find it challenging to maintain compliance with government regulations, due to their current, labor-intensive and time-consuming manual investigative process. Fifty-seven percent say the time and money they spend on pursuing false positives has a negative impact on their bottom line.
How much time and money do you spend investigating flagged suspicious financial transactions that turn out to be false positives?
To access more IDG Research survey findings and learn best practices for improving the accuracy and speed the time to case resolution, download Addressing Risk and Compliance Struggles Requires a Heavy Dose of Automation.