Forget the status quo: Proactive AML is the path forward
By 
Martin Woods2020-09-04T16:05:00
The AML community is guilty of tolerating the failing status quo, and very few have dared to confront, challenge, and disrupt the inefficient and ineffective practices. A proactive approach could be the solution, writes Martin Woods.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleBanks filing more SARs amid pandemic; is this the right approach?
An increase in the submission of suspicious activity reports for cash values that fall under the mandatory $10,000 transaction reporting threshold last year is a proactive step by banks, but more can always be done, writes Martin Woods.
-
ArticleWe’ve been failing at AML efforts, but new U.S. rules offer hope
If we fail to improve our collective AML efforts, specialized law firms will offer an inviting incentive to those who blow the whistle on our continued failings, writes Martin Woods.
-
ArticleIs human trafficking financial services’ blind spot?
A new report from BAE Systems demonstrates just how far we have to go in the fight against money laundering, particularly when it comes to human trafficking.
More from Opinion
-
ArticleTech and compliance 2026: What to watch for in AI, cybersecurity and quantum computing
What will be the critical tech issues for compliance in 2026? We asked experts what tech, digital, and cyber issues they believe compliance teams should be focusing on in the year ahead.
-
ArticleTips for making AI tools more compliant in 2026
AI mistakes can lead to viral news stories and, sometimes, big legal bills. How can compliance managers learn from past mishaps and protect their organizations as AI becomes increasingly integrated into every part of our working lives? We asked experts what compliance should do to make sure AI toes the ...
-
ArticleTop of mind compliance topics in 2026: Finance, immigration, supply chains and sustainability
What will you be doing in the coming year? We asked experts in a range of sectors to gaze into their crystal balls and highlight one legal development or compliance topic that will be critical for compliance teams in 2026. This is an edited version of what they told us.