AML Trends in 2022: What You Need to Know
This IDC Perspective reviews the trends and challenges facing financial institutions related to compliance with anti–money laundering (AML) laws and regulations. Criminal behavior is always a moving target without much of a break to catch your breath. Banks need to have a strong AML risk program and also keep watch for new regulations. Good people, process, and technology will help aid in identifying and detecting criminal activity while meeting todays' laws and regulations. Banks ignoring these trends risk reputational harm from the media and potential large fines from the regulators."Banks are implementing artificial intelligence risk-related offerings to keep pace with the complicated patterns of money laundering and also the volume of AML laws and regulations. Artificial intelligence offerings' use of technology with AML experts help create efficiency and better results," says Kevin Dolan, research director, IDC Financial Insights.
Please Note: Extended description available upon request.
- Executive Snapshot
- Situation Overview
- What Is Money Laundering?
- AML Best Practice Risk Management Program for FIs
- AML Compliance Spend
- AML International and Intergovernmental Institutions and Requirements
- AML Laws, Regulations, and Enforcements
- Anti-Money Laundering Act 2020
- EU's Sixth AML Directive — AMLD6
- U.K. AML Regulations
- Additional AML Trends
- New and Old Challenges with AML
- Conclusion
- Advice for the Technology Buyer
- Guidance for FIs: Strengthen Enterprise AML Program
- Learn More
- Related Research
- Synopsis
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