Search
  • AB AML Writers

Big banks think they can get away with it.

Small banks are viewed as being somewhat vulnerable to money laundering operations due to their size and lack of resources. It costs a lot of money and takes a lot of effort to comply and have the right processes in place. You would think the bigger banks have the economy of scale to incorporate effective AML barriers. This is true, but on the other side of the coin, larger banks don't really see AML compliance as a top priority. Perhaps also, having many more customers and banking reps, AML 'oversights' would be more common and harder to manage. More customers =increased vulnerability criminals.






2 views0 comments

Recent Posts

See All

AML non-compliance is non-acceptable.

On the 3rd of March, the DIA took action against a company that moved $53 million overseas yet had failed to report and keep records.

The FMA cracks down on AML non-compliance

From their releaste on the 13th of May: 10 formal AML/CFT warnings issued by FMA The Financial Markets Authority (FMA) has issued formal warnings to 10 reporting entities under Section 80 of the Anti-