Originally published by WatersTechnology
Anti-money laundering laws and sanctions have brought complexity to banks’ KYC/AML processes. Some vendors are responding by investing in their systems.
Know-your-customer and anti-money laundering (KYC/AML) processes at banks are a source of reputational risk. Corrupt elites don’t make themselves easy to catch, obfuscating their identities and hiding their tracks in networks of shell companies.