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AML Trends in 2022: What You Need to Know

Publisher IDC
Published Feb 14, 2022
Length 9 Pages
SKU # IDC16986328

Description

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.

Table of Contents

9 Pages
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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