The U.K. financial regulator is expanding its remit and planning to deploy AI to manage its increased workload. This is part of a global trend and has significant compliance implications.
AML
Posted inFinancial Services
FinCEN proposes overhaul AML rules, would end 2024 risk assessment requirements
A rule overhaul proposed by the U.S. Treasury Department’s Financial Crimes Enforcement Network is designed to reduce compliance burden and would free up banks from tracking all but the most egregious illicit financial activities.
