Market Insight: Anti-Money Laundering
We take financial crime seriously at Logica. That is why we have been asking, those in the business, about the biggest business challenges in Global Financial Crime.
Our survey has found that the sanctions environment is presenting new and significantly growing threats. Increased regulation means there are more stringent demands for payments filtering and higher fines for violations. With between 3% and 6% of all payments appearing to be high risk and therefore requiring significant AML resource to investigate these, this is an issue that has come to the forefront. We found that not only do they now have to adhere to tougher regimes, but the subsequent operational burden is vast.
Our view is that the right sanctions screening approach combined with the right technology can reduce their impact. Working together we can take steps towards combating financial crime.
Take part in the latest AML survey to win a Kindle, click here.
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