Introduction How do you know if the thresholds are set correctly in your OFAC (Office of Foreign Assets Control) Sanctions Filtering or BSA (Bank Secrecy Act) Transaction Monitoring system? That is certainly an important question, and a mystery in the world of anti-money laundering (AML). Commonly in the financial industry, and for the purposes of […]
How do you know if the thresholds are set correctly in your OFAC (Office of Foreign Assets Control) Sanctions Filtering or BSA (Bank Secrecy Act) Transaction Monitoring system? That is certainly an important question, and a mystery in the world of anti-money laundering (AML). Commonly in the financial industry, and for the purposes of this […]
As an AML (anti-money laundering) professional it is often hard to fully understand AML transaction monitoring software, including the terms, functionality, data dependencies, and limitations. These challenges can make it difficult in creating and maintaining an effective AML governance program. Often we see when AML governance programs are built upon their AML software, they have […]
As an AML (anti-money laundering) professional it is often hard to fully understand AML transaction monitoring software, including the terms, functionality, data dependencies, and limitations. These challenges can make it difficult in creating and maintaining an effective AML governance program. Often we see when AML governance programs are built upon their AML software, they have […]
How do you know if the thresholds are set correctly in your OFAC (Office of Foreign Assets Control) Sanctions Filtering or BSA (Bank Secrecy Act) Transaction Monitoring system? That is certainly an important question, and a mystery in the world of anti-money laundering (AML). Commonly in the financial industry, and for the purposes of this […]
In part one of this article, Implementation of AML Software: “The Keys to Success” Part 1 of 2, we discussed evaluating your needs, vendors, budget and having a good well thought-out plan, including a Business Requirement Document (BRD) and Functional Design Document (FDD). We covered some, not all, iterations that can change your needs or focus, […]
It’s often hard to judge just how much effort you will need to put forth on behalf of your institution in order to have peace of mind for AML compliance. On one hand you could put a great deal of effort into AML compliance, which could simply be a waste of money. On the other […]
