Banks want AML data upgrade to complement US regulatory reform
FinCEN’s proposed overhaul sparks debate on whether it will lead to smarter or weaker supervision
Anti-money laundering (AML) professionals are urging the US Financial Crimes Enforcement Network to provide more feedback on conviction rates associated with suspicious activity reports (SARs), as part of efforts to develop more targeted and risk-based supervision of AML processes. FinCEN has been legally required to provide data around how many SARs lead to enforcement outcomes since the AML Act
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