News

An expected rise in mergers between financial institutions in the near future promises to test the ability of anti-money laundering compliance departments to ensure the integrity of their datasets, sources told ACAMS moneylaundering.com. The quality of a targeted financial institution's automated systems for adhering to AML regulations may not be the top concern of a larger institution seeking to acquire it, but data-integrity problems frequently arise from differences in IT infrastructure, and syncing customer and transactional information is almost invariably an error-laden process. The AML programs of smaller institutions often rely heavily on manual processes, minimizing the chances of data...