Reliable AML controls based on complete and accurate static data

Article

Reliable AML controls based on complete and accurate static data

An ongoing challenge for professionals

Many articles have been published by the international press about suspected cases of money laundering. Terrorist financing and money laundering are dynamic and continually evolving phenomena that demand the vigilance of professionals, who must keep abreast of the latest developments and trends.

Executive summary

Sanctions have also reached unprecedented heights with a record fine of USD 1.9 billion paid by an international bank in December 2012 to settle allegations of Mexican drug traffickers and terrorists using this bank to move money around the financial system.

The risks of money laundering and terrorist financing continue to top financial and political agendas and these risks fall under the scope of both internal and external audits for the financial sector. As the money laundering and terrorist financing risks encountered by professionals have evolved, the legal and regulatory framework has quickly been adapted, given increasing pressure from regulators worldwide to have professionals revise and update their controls and systems in order to fulfil their professional obligations. 

Inside magazine issue 4, March 2014

Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.

Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics). 

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