Money Laundering Key Risk Indicators
Regulated institutions have a broad responsibility to comply with all applicable anti-money laundering (AML) and anti terrorist financing legislation. In this video, Iain discusses the areas AML regulation addresses in order to identify criminal activity.
Overview
In order to accurately evaluate the size of risk a bank faces, or wishes to undertake, they use risk indicators such as: sources of wealth and legal entity type to identify suspicious or illegal activity. From this, regulators can develop a risk-based approach to handling the case.
Key learning objectives:
Explain why banks are fined
Describe the key identity and qualitative checks
Identify all the risk indicators, and the crucial things regulators look for in each of them
Summary
Expert
Iain Hoggarth
Iain has been in the banking industry for about two decades. He has spent a large part of his career in commercial and corporate finance in both the frontline and risk functions. Iain has worked for large banks, small funds and has spent time in consultancy.
