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Sumsub Tackles Growing Financial Crime Concerns; ‘Empowering Professionals’ in Second Skills Course

Emerging technology such as AI has enabled threat actors to take a sophisticated approach to fraud, with global full-cycle identity verification platform, Sumsub, revealing a 10x increase in the number of deepfakes detected worldwide from 2022 to 2023.

Now, Sumsub is gearing up for a second iteration of its Advanced Transaction Monitoring Masterclass 2024, which will help over 2,500 anti-money laundering (AML), anti-fraud, and compliance professionals in the fintech sector to boost their knowledge in combating financial crime issues facing their respective companies.

Ninety-nine per cent of participants claimed that last year’s course helped them improve the skills required for their current roles and would recommend it to peers. The highest proportion of participants (41.4 per cent) were from the fintech industry, followed by the crypto sector (14.7 per cent).

The free course, with alternatives that typically cost over $800, offers insights from a diverse group of financial crime experts who shared expertise during the first module. These courses range from junior compliance officers to seasoned Money Laundering Reporting Officers (MLROs).

Andrew Novoselsky, chief product officer at Sumsub
Andrew Novoselsky, chief product officer at Sumsub

Andrew Novoselsky, chief product officer at Sumsub, discussed the impact the course could have: “We are proud to be launching the second batch of our Transaction Monitoring course.

“Empowering professionals with the essential skills needed to combat financial crime is pivotal in today’s ever-evolving landscape. This Masterclass reaffirms our commitment to equipping industry professionals with crucial knowledge and strategies for safeguarding businesses against illicit activities.”

By launching the second batch of the course, Sumsub aims to provide knowledge via open access, with a course design that acknowledges all experience levels.

Once participants have completed the course, they will receive a certificate of completion to show their dedication to learning the latest transaction monitoring tactics.


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