Research & insights

AML Transaction Monitoring Overview: Perspective of 2019 and onwards - challenges and trends

AML Transaction Monitoring Overview: Perspective of 2019 and onwards - challenges and trends

As the new year has just begun it is a good moment to summarize issues that shaped AML world in 2018 and consider how they might impact the financial industry in 2019 and onward. The huge money laundering scandals in Europe filled the headlines in 2018. These events have revealed that AML rules are not always enforced effectively. Moreover, there are still some deficiencies in AML regulations, especially as the market is constantly evolving. As the result of an evident money laundering problem in Europe there were changes in AML regulations which might set trends for 2019.

AML Transaction Monitoring Overview: Types of crimes being targeted and detected

AML Transaction Monitoring Overview: Types of crimes being targeted and detected

One of the biggest challenges for financial institutions is to prevent themselves from being used in processing transactions related to money laundering and terrorist financing. Understanding of how the funds are generated, what activities are related to the illegal profits and what are the typical ways of laundering funds generated by most common criminal activities can help financial institutions to identify these transactions.

AML Transaction Monitoring Overview: Transaction Monitoring coverage over various banking products

AML Transaction Monitoring Overview: Transaction Monitoring coverage over various banking products

Proper and efficient risk assessment process is key to preventing money laundering and terrorist financing. Legitimate products offered by financial institutions can be used by criminals to conceal illegal origins of funds or to finance terrorism, therefore it is crucial that a risk assessment is able to identify risks related to and specific to various products, their vulnerabilities and risks related to the type of market that they are directed to.

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