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Anti-Money Laundering Matters Shouldn’t be Handled in Isolation, Compliance Chief Says
printThe biggest challenge banking compliance departments face is the internal struggle for adequate resources and attention from senior management, says Markus Schulz, chief operating officer of the anti-money laundering compliance department for ABN AMRO in the Netherlands. Schulz, who is responsible for managing all of ABN's AML matters, including projects, strategic agendas, planning, governance, communication, training, human resources and functional business support, recently spoke with moneylaundering.com reporter Larissa Bernardes about navigating AML rules from various jurisdictions, the reach of U.S. laws and ABN's global transaction surveillance system. Here is an edited transcript of the interview. What are the main obstacles...
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