Table of Contents
Financial Insights Opinion
In This Report
Situation Overview
Introductory Notes on AML: The Big Business of Dirty Money
Figure: The Processes of Money Laundering and Terrorist Financing
Survey Methodology
Financial Crime Risk in Asia
Figure: Country's Risk of Money Laundering and Terrorist Financing
Figure: Country's Principal Risk Factors for Money Laundering
AML Initiatives in Asian Banks
Figure: Effectiveness of AML Systems and Processes
Pushing AML up the Agenda
Table: Key Aspects of an Effective AML Compliance Program
Figure: Key AML Procedures at Asian Banks
Figure: Approach Adopted to Monitor Customer Account Activity
Concerns About Effective Implementation
Figure: Obstacles to Implementation of Effective AML Measures
Future Outlook
AML Spending Priorities
Figure: Change in Technology Investment to Combat Money Laundering
Figure: Annual Incremental Spend for 2008
Figure: Focus Areas for AML-Related Investments
Figure: Transaction Monitoring Functional Architecture
Vendor Solutions and Characteristics
Figure: Software Applications Used to Counter Financial Crimes
Characteristics of Preferred AML Solutions
Figure: Key Functional Characteristics for AML Vendor Solutions
Essential Guidance
Actions for Financial Institutions
Figure: Key Elements of a Comprehensive AML Program
Governance Structure
Enterprisewide Program
Policies and Know-Your-Customer Procedures
Comprehensive AML Monitoring Solutions
Training of Personnel
Resource Allocation for AML Programs
Legislation (Not an End in Itself)
Actions for Vendors
Generate Buy-In from Banks' Top Management
Customization Is Key
And So Is Product Evolution
Focus on the Obvious, Lower-Hanging Fruit
Provide a Range of Value-Add Ancillary Services
Learn More
Related Research
Appendix: The Lay of the Land in Asia
Figure: Asia's Risk Profile for Money Laundering
Australia
Regulatory Undertaking
Banks' Reaction
China
Regulatory Undertaking
Banks' Reaction
India
Regulatory Undertaking
Banks' Reaction
The Philippines
Regulatory Undertaking
Banks' Reaction
Singapore
Regulatory Undertaking
Banks' Reaction
South Korea
Regulatory Undertaking
Banks' Reaction
Synopsis
