Can Mobile Solve FI’s $5B AML Problem?


From the age of gold coinage to today’s technologically advanced banking system, money laundering has continually evolved to survive – and thrive – in changing times.  

Since 9/11 however, laundering money has become much more difficult. The U.S. government has made each iteration of anti-money laundering (AML) legislation more complex: Standards are higher, and penalties for failure to comply are harsher. Between 2009 and 2015 alone, the U.S. government fined banks a total of $5.2 billion.