ACAMS survey: Budget cuts, criminal tech innovation top 2024 threats


Nearly 800 financial crime professionals said the biggest threats to the effectiveness of their anti-money laundering (AML) programs are budget cuts and their inability to keep pace with more aggressive and innovative uses of technology by criminals to commit fraud.

Eighty-nine percent of respondents to a new survey by the Association of Certified Anti-Money Laundering Specialists (ACAMS) said they believe an economic downturn poses a “moderate,” “high,” or “very high” risk to their financial crime functions over the next two years.

“The Anti-Financial Crime Threats Report” further found staffing and declining budgets were identified as two of the biggest challenges, with 81 percent and 71 percent, respectively, identifying them as being moderate or higher risk to their programs.

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