Use your intelligence

Martin Woods (martin@amlwoods.com) is Managing Director of AML Woods (www.amlwoods.com).

Recently, writes Martin Woods, I read a social media post by an AML vendor which boasted that, by using its data and technology, a client had “improved its [screening] hit rate to 2.3%”. When I first read this, I thought, I must be missing something. So, I asked around; I posted, “What does this mean? I am reading 2.3 in every 100 is a hit. Please tell me I am wrong.” To date, I have received no replies.