Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

AML, Analysis, Compliance, Opinion

ANALYSIS: The Top 3 Takeouts you need to know about Wolfsberg’s best AML/CFT practices for banks and financial institutions

By Dan Byrne for AMLi

Global banking organisation the Wolfsberg Group’s report on what financial institutions are doing right and wrong with their AML/CFT risk has multiple recommendations layered into its five page summary.

It’s split into three subsections dealing with regulation compliance, reporting to government, and reasonable risk-based controls.

One common theme emerges – the call for banks to show they are effective at AML by “telling their own story,” and not fading away into some bigger compliance machine.

Here are the Top 3 Takeouts:

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!