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Merging AML Efforts with Other Bank Duties Can Increase Profits, Efficiency, Says Researcher
printFinancial institutions should consider broad re-thinks of their compliance programs, including the possibility of using data collected for anti-money laundering purposes to help marketing and other departments, according to Dr. Dionysios Demetis, head of the AML/CTF Group at Syntax IT Inc., an Athens, Greece-based consultancy. Demetis, who will be releasing a book in September that outlines a "systems theory" approach to anti-money laundering (AML) compliance, believes that banks can view their compliance departments as a means to streamline other company functions rather than a money drain. The same method can help banks raise the percentage of their true positive transaction...
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