I've worked at a number of financial institutions including two banks.
No idea what you are talking about with AML creating a massive honeypot of data for hackers. If a bank's internal systems were to be widely compromised then stealing a few graph datasets would be the least of their worries. You would have dozens of attack vectors to steal significant amounts of money without the bank finding out quickly.
And compliance issues by HSBC et al is a direct result of a lack of proper AML/KYC systems and processes. So you're making the case that we should roll them out.
> I've worked at a number of financial institutions including two banks.
I spent 5 years in fintech and touched over a dozen financial institutions. You're not thinking creatively enough. Plus everyone has to do KYC/AML, including two-bit money transmitter startups.
> And compliance issues by HSBC et al is a direct result of a lack of proper AML/KYC systems and processes.
Hah, okay. Even if that were true, just keep walking down the menu: JPM knew Jeffrey Epstein was their customer, too.
No idea what you are talking about with AML creating a massive honeypot of data for hackers. If a bank's internal systems were to be widely compromised then stealing a few graph datasets would be the least of their worries. You would have dozens of attack vectors to steal significant amounts of money without the bank finding out quickly.
And compliance issues by HSBC et al is a direct result of a lack of proper AML/KYC systems and processes. So you're making the case that we should roll them out.