AML: Beyond Box-Ticking Compliance

The episode argues that current anti-money laundering (AML) programmes in financial services are inadequate, focusing on superficial compliance rather than effective risk management. It highlights the inefficiencies and risks associated with this approach, such as wasted time on false positives and an inability to scale with business growth. The episode advocates for a proactive, data-driven strategy, emphasising the importance of staff education, open communication, and the strategic use of technology. Ultimately, it promotes a shift from box-ticking compliance to integrating robust risk management into the core business. This requires greater investment and a more sophisticated approach to AML.

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