By Dan Byrne for AMLi
Global banking organisation the Wolfsberg Group’s report on what financial institutions are doing right and wrong with their AML/CFT risk has multiple recommendations layered into its five page summary.
It’s split into three subsections dealing with regulation compliance, reporting to government, and reasonable risk-based controls.
One common theme emerges – the call for banks to show they are effective at AML by “telling their own story,” and not fading away into some bigger compliance machine.
Here are the Top 3 Takeouts:
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
