2017 global anti-money laundering survey
Our 2017 global anti-money laundering and sanctions compliance survey explores how financial institutions are managing their compliance programs amid growing risk and heightened regulatory expectations.
Key themes surfaced from survey
Corruption is a global problem but some regions and companies are riskier than others
Respondents said that it is becoming tougher for their companies to steer clear of potential risk. 67% believe there are locations where it is impossible to avoid corrupt business practices, namely Russia (35%), Africa (33%) and China (27%).
Data viewed as being critical to investigations, but still poses challenges
The survey found that 87% believe their companies use data successfully to identify possible corruption. Across all industries and sectors, data and system security continues to present concrete opportunities in 2017, with 67% of survey respondents using real-time monitoring for suspicious activity.
Opportunities ahead: internal audits and anticorruption compliance policies
In response to the heightened enforcement environment in recent years, companies have adopted more controls and compliance policies. Among the most successful measures implemented to reduce corruption risk, internal audits and anticorruption compliance policies take the lead for survey respondents (84%).
Money-laundering and sanctions risks not being adequately prepared for by financial-services institutions
Even though financial institutions are perhaps more aware than ever of risks related to money-laundering and sanctions-related investigations, many of them may be “de-risking”—disassociating themselves, perhaps needlessly, from otherwise-profitable businesses and relationships. And, at the same time, a significant number lack both adequate anti-money-laundering (AML) and sanctions compliance budgets and training for their boards. That’s according to a survey of financial-services executives and boards of 361 financial institutions around the world released today by AlixPartners, the global business advisory firm.
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