AML 2023 preview: Regs not backing down on beneficial ownership, tech needs
Keeping up with increasingly demanding anti-money laundering (AML) expectations in 2023 will likely mean doing more with less and figuring out where and when is the best place to use technology to aid compliance, experts say.
Many business leaders are expecting a recession to hit sometime next year, meaning compliance budgets will likely shrink while new initiatives are curtailed or shelved. But regulatory expectations for your organization’s AML compliance program are not going away.
Key areas of concern for regulators in 2023 include: