Anti-Money Laundering (AML) laws continue to grow in scope and in importance even as regulatory bodies increase the extent of laws like the Banking Secrecy Act of 1970 was created to deter criminal activity. Those financial institutions that do not follow the correct procedures and compliance processes can face crippling fines by not having the proper governance, risk, and compliance (GRC) programs in place to protect not only their business but their customers as well.
This white paper will provide some background of how AML laws came to be and why with the introduction of technology they are now top of mind to most bank executives in today’s marketplace than ever before. We will also highlight the severity of AML penalties issued in just the past few years to some of the largest banks in the world, and detail how having a modern GRC solution using the latest technology can directly eliminate or lower the chances of receiving any AML penalties.
Download This Guide to Learn:
- How the goal and scope of BSA/AML regulations have changed
- Why BSA/AML penalties have become so severe
- How today’s GRC technology can protect banks against the rise of modern-era money laundering
Download White Paper
Please fill out the form to download white paper