AML Insight Survey

Survey Methodology
This survey is based on responses from 115 individuals in the business of reducing financial crime. The majority of individuals interviewed are located through-out the Americas in Tier 1 and Tier 2 banks (most of which are active internationally), in most cases they are the Head of Compliance, Compliance Officer, Head of Risk or AML. The majority of the interviews were carried out at the 15th Annual Money Laundering Conference held in Miami, 2010.

Summary

• 95% of respondents agreed or strongly agreed that increased regulatory demands were a significant challenge
• 91% of respondents also found the rise of organized financial crime a major cause for concern
• Unsurprisingly, both increased regulatory demands and organised financial crime are also the biggest areas of focus for survey respondents
• Budgetary constraints is an issue with more than 76% of respondents agreeing or strongly agreeing that this is a challenge
• Additionally, 77% strongly agreed or agreed that the increased volume of payments that need to be scanned
• More than half of respondents (61%) strongly agreed or agreed that there are inefficiencies in their institutions' payment filtering No. 3

How we are helping to combat Financial Crime
We take financial crime seriously at Logica.
That is why we created HotScan our automated transaction filtering and scanning software. HotScan scrutinises domestic and cross-border transactions in real-time and alerts the institution to matches against watch lists.