Effectiveness of AML programmes

Money laundering and fraud are the top two financial crimes that pose the greatest compliance risk to financial institutions.

To further combat them, effective and reasonably designed anti-money laundering (AML) programmes, including those for suspicious activity reporting and risk, are necessary.

For them to be effective, four out of five of over 340 respondents in a survey felt that the periodic issuance of AML priorities by a national governmental body would be helpful in shaping an institution’s compliance programme.