Meverly Adjhei Benjamin Consultancy Introduces a New Approach to Financial Fraud Prevention

Amsterdam, The Netherlands--(Newsfile Corp. - September 16, 2022) -  Meverly Adjhei Benjamin Consultancy®, an AML/KYC compliance leader, reveals a framework to streamline anti-money laundering fraud prevention and minimize risk.

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Meverly Adjhei Benjamin Twum-Barimah

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The Dutch Central Bank's latest analysis of the finance sector issued last week under the title "From recovery to balance" unveiled shortcomings and inefficiencies in the way banks and other financial services providers approach financial and economic crime prevention. Next to substantial penalties already applied to giants, many others risk detention for not meeting the anti-money laundering prevention requirements.

In response to the report, Meverly Adjhei Benjamin Consultancy® unveiled a framework that points out adjustments that both regulators and banks can apply to mitigate risks. The adjustments include operational improvements to help banks adapt to the socio-economic changes such as post-pandemic inflation, recession, and evolving regulatory landscape in a frictionless way.

The framework adopts the latest technological developments and innovations such as automation, machine learning, encryption, and electronic identification as part of the KYC (Know Your Customer) process for the new customer onboarding to prevent fraud more effectively. The firm's straightforward approach reduces the risk of fraud by half and increases efficiency despite the pandemic-induced personnel shortage by outsourcing AML/KYC screenings.

"Addressing the shortcomings and inefficiencies in fraud prevention described in last week's report requires substantial investment. This will drive the banks' service costs up and limit their capacity to meet the increasing demand. The biggest strength of our framework is speed - organizations can eliminate operational bottlenecks quickly and affordably, increase efficiency and reduce risks," shares the CEO, Meverly Adjhei Benjamin Twum-Barimah.

About Meverly Adjhei Benjamin Consultancy®

Meverly Adjhei Benjamin Consultancy® is a cutting-edge multidisciplinary firm located in The Hague, The Netherlands pursuing a mission to reduce financial and economic crime. The firm has unique expertise in risk and compliance with a strong focus on AML/KYC protocols serving businesses and organizations across multiple sectors and jurisdictions.

Contact Information

Meverly Adjhei Benjamin Twum-Barimah
mb@meverlyadjheibenjamin.com
The Hague, The Netherlands

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