News

03:02 PM
Jonathan Camhi
Jonathan Camhi
Slideshows
Connect Directly
Facebook
Twitter
Google+
RSS
E-Mail
50%
50%

6 Best Practices for Improving AML Screening

A new whitepaper by BankersAccuity outlines a number of steps banks can take to improve efficiency and compliance in anti-money laundering operations.
Previous
4 of 7
Next


Don't Use Local Place Names

As long as the institution is not in a sanctioned country, then place names in a home country can be left out because place names can only be applied to country programs. Although there are sanctions against Liberia's former president Charles Taylor and his known associates, banks can ignore matches that include places in Liberia, because the sanctions are leveled against an individual not the place, the paper states.

 

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

Previous
4 of 7
Next
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Jonathan_Camhi
50%
50%
Jonathan_Camhi,
User Rank: Author
7/23/2013 | 4:10:30 PM
re: 6 Best Practices for Improving AML Screening
Yes the white paper was centered on the issue of data quality and didn't get into the infrastructure issues that you're talking about. Systems and integration and infrastructure will also be important for banks to get the full view across the enterprise that will help in complying with all of the changing regulations.
KBurger
50%
50%
KBurger,
User Rank: Author
7/22/2013 | 4:20:01 PM
re: 6 Best Practices for Improving AML Screening
Some of these also seem like analytics/data management best practices that could be applied in other ways, to other kinds of business requirements. That could be helpful to banks looking to leverage necessary investments in ALM-related systems & resources. What I don't see here is anything about the need to look at ALM across the enterprise & the related systems integration and infrastructure issues.
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Oct. 14, 2014
Bank Systems & Technology's new Must Reads is a compendium of our best recent coverage of customer analytics. Learn what big data means for banks, meet Wells Fargo CDO Charles Thomas, find out how to connect with your Gen Y customers, and more.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.