Should cyber and anti-money laundering units remain distinct entities?

Why the Carbanak Campaign and the Bangladesh Bank attacks are a wake-up call for every AML compliance program. Someone once asked me how long will criminals continue to find new ways to circumvent money laundering laws. My reply was simple, so long as crime is...

Enhanced due diligence for the financial industry operating in developing economies

"Anti-money laundering and anti-bribery are two sides of the same coin. This general rule is particularly important in the financial sector, which, given the nature of the business, is especially exposed to financial crimes. In fact, these institutions deal with...

Effective staff training is vital to ensuring a successful AML framework but regional inconsistencies exisit.

The financial services industry worldwide is challenged to respond to increased and a changing regulatory AML landscape. AML as a standalone entity under compliance, to a complex and much broader function cutting across many entities as legal, risk, operations, sales...

Instant payments: Enormous Potential versus Financial Crime Risks

    The world of banking continues to evolve at a breathtaking pace and is becoming ever more competitive. Once a new technology has come to market, banks are faced with a dilemma: do we embrace it and run with it, or do we let our competitors gain a...

Are we taking Anti-Money Laundering for granted?

Basel Institute reveals slow progress in AML Earlier this month the Basel Institute on Governance announced the release of the Basel Centre for Asset Recovery’s Basel Anti-Money Laundering Index for 2018 – the so-called “AML Index”. It is the seventh such report...
The Global Laundromat

The Global Laundromat

Transparency campaigners dismayed at clean bill of health for UK government On Friday, 7 December the Financial Action Task Force (FATF), a G7...

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