Top AML and Sanctions compliance challenges for FIs in 2018 and beyond

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March 19 2018

The financial-services industry has been roiled by a perfect storm of disruptive forces. Complex regulatory-compliance requirements, aging legacy assets and operating models, digital innovation and fintech have rapidly changed the operating environment. The evolving regulatory landscape that accompanies those changes, worldwide political changes and record monetary fines have made anti-money laundering (AML) and sanctions compliance a major challenge for financial institutions globally.

The stakes are high; regulatory action has produced a wave of investigations and sanctions, jeopardized licenses and found individuals personally accountable and liable for noncompliance. To assess global industry trends, AlixPartners conducted its 2017 Global Anti-Money Laundering and Sanctions Compliance Survey of 361 financial institutions to gauge how institutions are addressing the challenge. Based on the survey results, we have identified key trends and challenges financial institutions should address in 2018 and beyond.