Company's agentic AI frees up the capacity of more than 5,000 Level 1 analysts every day; modernizing how banks and financial institutions approach false positives in financial crime compliance
NEW YORK, March 18, 2025 -- WorkFusion, a pioneer in AI agents for financial crime compliance, is upending the traditional way banks and financial institutions review sanctions and adverse media alerts, making false positives irrelevant. Today, the company announced that its AI Agents for sanctions screening and adverse media alert review are processing one million alerts daily: freeing up the capacity of 5,052 Level 1 analysts, or the equivalent of 40,418 hours for its customers per day.
For most banks, 99% of sanctions, watchlist, PEP, and adverse media alerts are false positives. A recent global ACAMS survey by SAS and KPMG found that reducing false positives continues to be a growing priority for financial crime compliance operations. For decades, institutions have invested heavily in software, contractors, and outsourcing to tackle this challenge. While these efforts were necessary then, they are now outdated.
"False positives are the root of many AML problems," said David Caruso, WorkFusion's VP of Financial Crime Compliance. "Over the past 15 years, financial institutions have spent heavily on "tuning" their systems to reduce false positives in sanctions screening, watchlist filtering, PEP detection, and adverse media monitoring. While some of this work was valuable, we've reached a point of diminishing returns. The effort to marginally reduce alerts no longer justifies the cost and doesn't address the fundamental problem."
What has changed is the technology available to address the false positive issue. WorkFusion's AI Agents, Tara, Evelyn, and Evan, represent a shift in perspective, making ongoing efforts to reduce false positives largely irrelevant.
AI Agents make false positives irrelevant by:
- Reviewing every alert
- Employing the same procedures and reasoning as top Level 1 analysts
- Deciding whether an alert requires further investigation or should be closed
- Reviewing alerts in seconds, so high volumes don't matter
"When we launched our AI Agents for financial crime compliance three years ago, we knew that they would foundationally reshape the way financial crime operations were done," said Adam Famularo, CEO of WorkFusion. "Today, they are processing one million alerts per day – and growing. When you use our AI Agents to remove a lot of the false positive noise and the rote, mundane and redundant work, you can then unlock new opportunities like shifting resources to case investigations, reducing managed services or contractor costs, increasing team capacity, and scaling without adding more staff."
About WorkFusion
WorkFusion is a pioneer in AI agents for financial crime compliance (FCC). Its AI Agents are purpose-built workers that augment financial crime compliance operations teams in Level 1 analyst functions for anti-money laundering (AML), adverse media monitoring, sanctions screening alert review, Know Your Customer (KYC), and transaction monitoring investigations (TM). WorkFusion's AI solutions are used at 4 of the top 5 US banks and leading financial institutions around the globe to mitigate risk, solve talent challenges, increase workforce capacity, save money, enhance employee and customer experience, and improve compliance posture. For more information visit workfusion.com.
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Jessica Cassady
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