“Regulators have shown a heightened focus on AML and OFAC recently, with large fines levelled against financial institutions - such as HSBC and Standard Chartered - that fail to comply. Clearly, the risks are high for financial institutions if they fail to ensure a proper screening process in their AML operations.
A new whitepaper by BankersAccuity outlines a number of steps banks can take to improve efficiency and compliance in anti-money laundering operations.”
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