Anti-Money Laundering when transaction monitoring is not sufficient

The world as we know it changed in many ways on September 11, 2001. The acts of terrorism perpetrated on that day forced changes to many facets of the way that financial institutions allow business to be executed.

Hitherto, Anti-Money Laundering (AML) operations had been regarded as a cost of doing business by the majority of financial institutions - a part of corporate social responsibility imposed by regulatory regimes. 9/11 changed that attitude forever. The Patriot Act of 2002 enacted inter alia stronger AML laws and subsequent regulation focused on changes to AML, Counter-Terrorism Financing (CTF) and Sanctions Screening. The cost of compliance and adherence to global regulatory requirements began to rise dramatically.

This white paper looks at the current AML landscape within the financial industry. It analyses their AML processes, procedures and protocols as well as the regulations that govern them. You will also gain insight into current AML failings within the financial industry. Download this white paper now and learn how you can ensure that your organisation remains AML compliant.