Vince Walden has posited that “the black box is dead”. He meant that there is no single tool to use to identify high-risk transactions, customer, employees or third parties. Yet, it is now even easier to ask big insightful questions from your data. Every compliance professional should embrace this.

Properly seen, compliance is a business process. As such you should keep in mind certain queries, such as:

The key is that through greater data mining and asking more insightful questions of that data you can truly move from a reactive-detect mode to a proactive-prescriptive mode.

Three key takeaways:

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