With the recent rise in regulatory oversight, executives and the boards require clear visibility into risk exposure and compliance status to effectively manage the organization's long-term strategies. As a result, companies need a systemic approach to ensure accountability and transparency, to manage and mitigate risks, and to build customer and shareholder confidence. One such major compliance area of focus for these banks in Anti Money Laundering (AML).
In the last few years, many of the large banks and other financial institutions have been penalized for their lack of effectiveness in tackling and tracking Anti Money Laundering (AML). Banks have now realized that the impact of Money Laundering on their reputation and business objectives are extremely significant and potentially irreparable. AML laws and compliance requirements have not only scrutinized financial institutions, but also led the risk officers to take a re-look at their processes, resources, and technology. Financial Institutions today have realized the importance of technology to address AML and Anti-fraud management needs across the enterprise. Join us to learn more about what is new in Anti-Money Laundering laws and regulations, challenges corporations face to meet them and how corporations leverage technology to manage their AML activities and initiatives.
The session will also discuss the following points:
- Impact of money laundering in financial industry
- Recent trends and developments in AML compliance
- Identifying key challenges in addressing AML issues in today’s environment
- Need for an effective AML solution to manage and meet AML Compliance requirements
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