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For banks, know-your-customer (KYC) measures amount to 40 percent of all anti money laundering (AML) compliance costs, totaling $5.7 million each year. This sum is tiny, however, compared to what is paid for non-compliance. In 2022, global fines for inadequate AML grew by 50 percent, almost reaching $5 billion.

Software as a Service (SaaS) has emerged as a cornerstone for organizations seeking flexibility, scalability, and efficiency in their operations. With the convenience of accessing applications over the internet, SaaS adoption has surged, offering unparalleled opportunities for innovation and growth. According to recent data, the global SaaS market is projected to reach $282.20 billion this year, reflecting the growing reliance on cloud-based software solutions. However, alongside these benefits come inherent security challenges that necessitate a proactive approach to risk management.

There's a lot of talk at the moment about how the use of AI opens up businesses to additional risk. But is AI itself the issue or is it the way in which it's integrated with other applications?

So what are we thinking?

Let’s all settle back into the decade from the mid 1990s through the early 21st century, as we embark on an apologetic punk deconstruction voyage.