When it comes to anti-money laundering (AML) transaction monitoring, financial services firms are under more pressure than ever to prove that the approach they are taking is working. Regulators want to see obvious evidence that firms are generating the right level of suspicious activity reports (SARs) for their size, geography, and business types, usually in the form of statistics and reporting. In turn, boards and senior management teams are now demanding to see this same information to be sure the firm is meeting its compliance obligations. As a result, AML transaction monitoring analytics are in more demand than ever before.
Insights and guidance from ACA's team of experienced compliance and technology professionals.
The US Office of the Comptroller of the Currency (OCC) has indicated that it will be focusing on the effectiveness of anti-money laundering (AML) systems and controls after including the topic on its list of FY 2019 annual priorities. For OCC-regulated banks, this means exams will concentrate on how up-to-date AML and Bank Secrecy Act (BSA) programs are with evolving threats and new rules.
Join ACA's Dan Collins and Ranjith Ramachandran for their session covering "Emerging Trends in the Audit of Financial Crimes".