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Sentinels eBook: AML Compliance and How to Avoid Fines

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Sentinels AML Compliance eBook Avoid Fines

In 2021 alone, the financial sector received $5.4 billion in penalties for non-compliance with AML, KYC and data privacy regulations. What can we Learn from 7 Major Banking Scandals?

The banking industry has the legal obligation to comply with regulations that demand Due Diligence by implementing Know-Your-Customer (KYC), Anti-Money-Laundering (AML), Counter-Terrorist Financing (CTF), Data Privacy and Fraud Detection programs. Over the past decade we have seen major banking scandals that have damaged the reputation of the banking sector; an industry that is already facing challenges around innovation and a growing competition from fintech companies.

Regulators in the US, the EU and the UK have imposed heavy fines on banks for their failure to detect and prevent fraudsters, money launderers, terrorist and criminal organizations from abusing their system to launder millions in illegally obtained funds.

Strengthen your compliance team with key learning from some of the most volatile compliance issues to make the press. We take a look at real life AML breaches and analyze seven cases where compliance went wrong.

  • Why are AML fines on the rise?
  • Analyzing AML breaches and what went wrong
  • What could have been done to avoid these AML fines
  • What every compliance team should learn from these breaches

I have written this interesting 30+ pages eBook for Regtech company Sentinels, downloadable here.

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Posted on

19th December 2022