ACAMS Today Taking AML Analytics Beyond Compliance

As federal regulators continue to throw a more stringent and broader investigative net over financial crime and potential money laundering violations, banks and other financial institutions are carefully reassessing their Bank Secrecy Act/anti-money-laundering (BSA/AML) programs, looking primarily for compliance gaps and inadequacies. Financial institutions have limited resources available for BSA/AML compliance that need to be used efficiently. In addition, the increasingly sophisticated, potentially disruptive tools of so-called big data and the analytics to evaluate and employ information, offer a critical opportunity to dramatically enhance AML capabilities and to do much more.