USE FACIAL RECOGNITION SOFTWARE ON SOCIAL MEDIA TO IDENTIFY HIGH-RISK ASSOCIATES OF LOW RISK CUSTOMERS

If you are a compliance officer, and your low-risk customer has engaged in conduct clearly inconsistent with his trade or business, or you have filed a SAR on one of his transactions, perhaps he's not really low risk after all.

How do you identify possible high-risk associates of low-risk customers who may be associating with them ? Through social media and social networking sites, accessed through facial recognition programs that seek out and find your client, socializing with dodgy individuals that do not fit whom you thought he kept company with. Social events, holiday parties, sporting events, all result in group photos which may truly reveal whom your client's real friends are.

Finding hidden information is what facial recognition programs are all about; your target's unknown, hidden, or indirect relationships affecting risk will generally surface only through this technique. Employ it whenever you discover a suspicious transaction from a good client.