Together, Dow Jones Risk & Compliance and ACAMS surveyed over 600 Anti-Money Laundering (AML) executives globally to better understand their top challenges and concerns in dealing with AML compliance.
Job titles of respondents included chief compliance officer, compliance director, compliance officer and vice president of AML, and respondents were based in various countries around the world, including the United States, Canada, United Kingdom, China, Japan, Australia and Spain.
KEY FINDINGS INCLUDE:
• The main challenges facing AML departments include a lack of properly trained staff, the need to cope with additional regulations and the increased enforcement of current regulations.
• False positives are still high on the agenda, with the majority of organizations seeing over 50% or more of their alerts as false positives.
• A high percentage of organizations are already screening for domestic PEPs even though it is not mandatory to do so in most jurisdictions.
Detailed report link: here