Why should anti-money laundering be a top priority for financial institutions #infographic

Why should anti-money laundering be a top priority for financial institutions #infographic
For any financial executive, the to - do list is certainly daunting. Many projects are competing for attention, ranging from navigating changes in technology to effectively managing talent.

An issue of anti-moneylaundering (AML), which has been in the headlines for many years. When criminals are able to efficiently hide the illegitimate origins of their cash, both the financial institution and society suffer. So what makes AML more important than it's been now in the past?

Compliance staff must have countless contact points with a customer to collect and verify information. Perhaps not surprisingly, one in three economic organisations has lost potential customers due to inefficient or slow onboard processes. It is no wonder that anti-money laundering is now a top priority for many CEOs in the financial industry.

Why should anti-money laundering be a top priority for financial institutions #infographic

infographic by: www.visualcapitalist.com

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