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.
July 19, 2013


Only Screen What Is Necessary

Different data types can be used to add more context to the screening process. The paper gives some examples such as passport numbers, which can provide extra certainty in identification. However, banks can mistakenly produce additional false positives if a sanctioned entity (such as, say, Cuba, NY) is entered and gets matched with the embargoed country.

Bank Systems & Technology encourages readers to engage in spirited, healthy debate, including taking us to task. However, Bank Systems & Technology moderates all comments posted to our site, and reserves the right to modify or remove any content that it determines to be derogatory, offensive, inflammatory, vulgar, irrelevant/off-topic, racist or obvious marketing/SPAM. Bank Systems & Technology further reserves the right to disable the profile of any commenter participating in said activities.

 
Disqus Tips To upload an avatar photo, first complete your Disqus profile. | Please read our commenting policy.
 
< Previous1 2 3 4 5 6 7 8 Next > 

< Previous1 2 3 4 5 6 7 8 Next >