Upcoming UK Reforms: Tackling AML Will Require Consolidation, Not Further Fragmentation
With a series of proposed reforms on the table to improve the effectiveness of the UK’s anti-money laundering and counter-terrorism ...
Tag: AML
Anti-money laundering or AML refers to laws and regulations designed to prevent people from hiding money that they’ve obtained in illegal ways. From a compliance standpoint, AML regulations require that banks and other financial institutions follow rules and regulations to ensure they’re not issuing credit to or opening accounts for people who are participating in money laundering schemes or activities.
AML compliance officers are often appointed to oversee AML policies and ensure that organizations are compliant.
The following articles and resources cover many aspects of anti-money laundering as it relates to compliance and risk management.
FCA Review Promises to PEP up Global Banking
UK regulators are set to embark on a review of banks’ so-called PEP lists, rosters of people who, because of ...
In De-Risking, Are Financial Institutions Painting With Too Broad a Brush?
Financial institutions have increasingly embraced the practice of de-risking as part of their AML strategies. This approach involves reducing or ...
Fighting Money Laundering Starts With Customer, Supplier Onboarding
With signs that money laundering is on the rise globally, many companies will point to their AML programs and assume ...
Biometrics & AI Among Modern Solutions to ID Verification
Banks and financial institutions subject to anti-money laundering and know your customer regulations are old hands at understanding the importance ...
Eurovision on Anti-Corruption Programs: Everyone Singing From the Same Songbook?
Lawmakers in the EU are seeking to strengthen and harmonize anti-corruption efforts in member nations. A trio of partners at ...
European Regulators Moving the Needle on Real-Time AML Monitoring
Financial institutions may have adopted methods of detecting fraud in real time, but money laundering detection remains an after-the-fact judgment. ...
Unleashing AI’s Potential in AML: Financial Institutions & Regulators Must Both Play a Role
So far, financial institutions are mostly using AI to improve the customer experience. But as Alex Roberto of Phaxis argues, ...
The Intersection of EDD and Banking Cannabis
As the cannabis industry continues to grow, so does its demand for banking services. Brandi Reynolds champions an enhanced due ...
Tracing Key Legal Developments in the UK’s AML Regime
Prateek Swaika and Sagar Gupta of Boies Schiller Flexner discuss the regulatory framework of UK’s anti-money laundering regime and explore ...
A Plan to Inhibit Significant Money Laundering Through New Regulation
How can we stem the tide of dirty money flowing through financial institutions? Proposal for New Regulation A Plan to ...
China-Taiwan Conflict Threatens to Strain US Compliance Teams
Some observers expect tensions between China and Taiwan to result in war by 2025 — or sooner. As we learned ...
