3. The complexity of managing duplicate data within the organization and its solutions

Many companies face issues with duplicates and inconsistencies in managing their data. Information collected from multiple data sources and systems often lacks consistency, leading to the same entity or branch being recorded in different ways. Such data discrepancies not only reduce the efficiency of business processes but also increase risks in decision-making.

Specifically, one method of money laundering known as structuring involves breaking transactions into smaller amounts to avoid detection. Without proper entity consolidation, it becomes difficult to identify this tactic.

Additionally, the data often contains information about defunct companies or outdated details which further undermines its reliability. Such a situation can lead to inefficiencies and misjudgments in marketing activities, customer management, and business strategy development.

The time and effort required for data management is increasing, making it a significant burden for companies to maintain accurate and consistent data. As a result, this can hinder business growth and pose a risk to competitiveness.