The to - do list is definitely daunting for any economic executive. There are many initiatives competing for attention, ranging from navigating technology changes to managing talent efficiently.
An anti-money laundering (AML) problem that has been in the headlines for many years. When criminals can effectively conceal their cash's illegal origins, both the financial institution and society are suffering. So, what makes AML more important than it was in the past now?
To collect and check data, the compliance employees must have numerous contact points with a client. Perhaps not surprisingly, owing to inefficient or slow onboarding procedures one in three economic organizations has lost prospective clients.It's no surprise that anti-money laundering is now a top priority for many financial sector CEOs.
infographic by: www.visualcapitalist.com