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AML strategies keep evolving, and so do the risks

Joe Mont | November 22, 2016

For those tasked with oversight, anti-money laundering compliance and similar controls related to financial crime may seem akin to rolling a giant boulder up a hill. The task is hard, taxing, and ultimately futile once that boulder rolls backwards. Add one more element to the metaphor: that giant rock keeps getting heavier and heavier.

Safeguarding an organization against financial crime is as complicated and time-consuming as it is critical. How do you assess the risks you face, stay compliant with ever-changing regulations, and keep one step ahead of the bad guys? 

The good news is that technology is perpetually adapting to meet the challenge. Big data opens the doors for comprehensive, relatively inexpensive data collection; advances in analytics mean all that information can be strategically applied. Unfortunately not everyone is up to the task.

Among the long list of demands being placed upon financial institutions, one of the latest comes from the...

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