Anti-money laundering (aml)
The likelihood of Fatca-style legislation from other jurisdictions means banks must be prepared
New research finds banks face steep extraterritorial compliance costs
The computational requirements of Solvency II are driving the need for more computing power and data storage accessible on a scalable basis. Early adopters are leveraging cloud computing for their Solvency II implementation. Others are taking a more cautious approach, waiting for the industry to address key concerns such as security before they to embrace computing.
More Anti-money laundering (aml) articles
Tax crimes to be punished by same laws as AML
Experts warn that banks are unable to keep their AML programmes up to speed because of changes in regulation
Ever-increasing sanctions are creating operational challenges not only for sanctioned entities but the industry as a whole
Rather than rushing to increase regulation and potentially creating compliance costs and regulatory risks, authorities should be getting involved at the ground level to improve supervision, says Lars Hansen, Swedish insurer SEB Life’s chief risk officer...
Banks' anti-money-laundering processes will come under scrutiny in the face of tougher sanctions in the Middle East
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.