ManchesterCF Analytics is circulated to clients and industry professionals to provide insight into the complex world of anti-money laundering and anti-terrorist financing. Our Analytics reports are frequently referenced in leading governance and regulatory publications and feature insights into, and analysis of, the latest trends in compliance and crime.
Financial institutions will need to heighten their awareness of the various money laundering techniques used to evade sanctions, as they may become embroiled in sanctions evasion as unwitting participants. With penalties now into the billions of dollars, a complacent anti-money laundering program at a bank that pays little attention to sanctions evasion patterns and typologies could face crippling fines and legal action.
Adding to the Quiver
Convincing senior leadership within a financial institution to properly resource the anti-money laundering (AML) compliance function is frequently a frustrating battle, often resulting in failure. Chasing after scarce budget dollars to mitigate the risks of money laundering, terrorist financing, financial fraud, proliferation financing, bribery and corruption, and other financial crime is not an undertaking for the meek or faint of heart.