Deep Dive: How To Improve Existing AML/KYC Requirements
PYMNTS
FEBRUARY 4, 2019
Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight. The United Nations Office on Drugs and Crime (UNODC) estimates the market for global money laundering is worth approximately $2 trillion per year.
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