The notion that a risk based approach to Anti-Money Laundering (AML) has forced a reappraisal of strategy is a slightly ambiguous one in today's climate, particularly so given that large financial institutions have now been pursuing such an approach for quite some time. Indeed the current hype surrounding risk-based responses comes solely on the back of pronouncements by regulatory bodies in both the US and the UK advocating their implementation. For the financial institutions themselves the outlook is consistent regardless of the hype, an holistic, risk based approach to AML is the most effective and relevant response to the way in which the business operates, in addition to representing the best possible means by which to identify potential money laundering.
Did you find this white paper useful?
0 out of 3 users found this white paper useful
Related white papers
Banking Webcast: Manage Payments for Improved Profits With WebSphere Business Integration
This webcast explains how WebSphere Business Integration solutions help retail and corporate banks manage payments for improved profit.
Security Compliance - Separating FUD From Reality, Part One: Sarbanes-Oxley
Information security is no longer just a good idea; thanks to legislation such as Sarbanes-Oxley, it's now a mandate. SOX requires new attention to security as part of a risk...
Specialist Schools Trust Gains Better Financial Management at Lower Cost
Specialist Schools Trust, a UK-registered charity, is a prime example of how a fast-growing organisation can quickly outgrow its original finance systems. With the needs of the finance team now...
The University of Michigan Builds an Enterprise With PeopleSoft
To continue to compete for quality students and research grants, and to offer highly rated academic programs, the University of Michigan needed a common software infrastructure that would manage financial,...
Kent County Council's IT Investment Projected to Save ?10.9 Million Over 5 Years
Faced with a growing mandate to improve public services, Kent County Council, the largest county council in the U.K., began evaluating ways it could "harvest" information technology to improve public...
Defining, Modeling & Costing IT Services: Integrating Service Level, Configuration & Financial Management Processes
This paper will examine the fundamental steps for defining IT services, modeling IT services in a Configuration Management Database (CMDB) and developing service based IT costing models. These activities are...
What Every Company Should Know About Email Management for Sarbanes-Oxley Compliance
In simple terms, the Sarbanes-Oxley Act (SOX) requires businesses to demonstrate effective corporate governance and information management controls. However, since the Act passed, it seems that just about everyone -...
