Why Anti-Money Laundering Should Be a Top Priority for Financial Institutions #infographic

Why Anti-Money Laundering Should Be a Top Priority for Financial Institutions #infographic

Why AML Should be a Top Priority for Financial Institutions The to - do list is certainly overwhelming for any financial executive. There are many campaigns vying for attention, from handling technological shifts to leveraging talent efficiently. One issue that has been in the media for many years is anti-money laundering (AML).

 If criminals can effectively mask their cash's illegal roots, both the financial institution and society can suffer. So, what makes AML more important now than it was in the past?Growing the Priority Ladder Today's McKinsey & Company report describes the factors that have desperately brought anti-money laundering to the fore in the last year.

Regulatory action Enforcement activities related to AML were on the rise. Regulators have imposed about $32 billion in AML-related fines worldwide since 2009.2. Threat Evolution Offenders employ increasingly advanced means to remain undetected, including internationally orchestrated technology, knowledge about insiders and e-commerce schemes.3. Incidents at Reputational Risk AML bring the credibility of a financial institution on the line. There is much at stake: the total value of each of the top 10 bank brands today is $45B.

Why Anti-Money Laundering Should Be a Top Priority for Financial Institutions #infographic

infographic by: www.visualcapitalist.com
Why Anti-Money Laundering Should Be a Top Priority for Financial Institutions #infographic Why Anti-Money Laundering Should Be a Top Priority for Financial Institutions #infographic Reviewed by Younglistan.com on April 06, 2020 Rating: 5

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