Axis of AML
Countries in the Middle East and Asia have a history of battling against money laundering and terrorist funding. Now the financial crisis has brought it home to regulators and banks that more needs to be done to stem the rising tide of money laundering, says David Benyon
Knowing the telltale signs of money laundering and keeping wise to anti-money laundering (AML) compliance should be natural and beneficial for Middle Eastern and Asian banks seeking to increase their standing in the international financial system. And it is essential because regulators are increasingly tightening AML rules. Regulators across the region as well as those in the US and Europe are demanding heightened scrutiny and improved AML standards from banks and financial institutions. The
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