2024 Surveillance Benchmarking Survey and Report

This report presents the findings of the 2024 Surveillance Benchmarking Survey, which updates the previous 2020 survey. It includes insights gathered from surveillance leaders across the banking industry and aims to provide a benchmark for trade, e-comms, and voice surveillance processes. Key takeaways indicate that a significant portion of banks plans to increase their surveillance spending, with many intending to invest in new technologies, including artificial intelligence for risk identification. The report highlights the growing influence of regulators on surveillance practices and spending, particularly in response to enforcement actions. It also discusses the structural organization of surveillance teams within banks, noting that most report to compliance heads. The report emphasizes the need for banks to enhance their surveillance capabilities, especially as regulatory scrutiny expands to smaller institutions. Additionally, it addresses the challenges and strategies related to the staffing and geographical distribution of surveillance operations.