Banks say social media is important – but how many are engaging?

As featured in The Banker

Money Laundering


“Social media can help to verify what is already flagged up as suspicious,” says Ms Keen. “But it wouldn’t be used as a standalone piece of evidence because the data is unstructured and it is difficult, if not impossible, to verify that something seen on social media is accurate. There are fake accounts, individuals can have multiple accounts, accounts can be taken over, and so on.”