Anti-money laundering (AML) compliance departments are traditionally people-heavy and technology-light. Within the next five years, this is set to reverse. AML compliance departments are set to make large investments into technology that will significantly reduce staff count. Below are three areas that will see some...

Ladies and gentlemen, thank you for your kind invitation to join this 10th anniversary of the BSA Coalition, an organization that is exactly the model for what I truly believe is essential for effective anti-money laundering (AML)—that is collaboration between the private and public sectors....

T echnology capabilities and customers’ expectations have contributed in shaping the financial services industry. The new upsurge of innovations in financial technology or “fintech” is accelerating change in the financial sector. Fintech conveys both opportunity and potential risks to the traditional understanding/concept of financial services....

As the financial industry evolves, crime remains a significant problem. In the fast pace of globalization with many industries joining forces for cross-link business activities, the importance of correspondent banking is increasing. At the same time, we have experienced high pressure from regulators to...

While there is a myriad of reasons why financial access is unavailable or limited, my focus today is on how risk management in the AML or financial crime prevention areas impacts compliance or business decision-making. As I indicated in November, when the financial sector receives...