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International AML Examinations Becoming Tougher for Banks, Say Compliance Officers
By Brian Monroe
printGlobal financial institutions are facing tougher anti-money laundering compliance exams from regulators in nations that have recently bolstered their laws, Bank Secrecy Act officers said on an industry conference call Thursday. Compliance officers have seen "an increase in oversight from regulators in the United States, and we are seeing it similarly throughout the world," said Rick Small, a senior vice president in enterprise anti-money laundering (AML) compliance for New York-based American Express, during a conference call hosted by the American Bankers Association and the Association of Certified Anti-Money Laundering Specialists. Financial regulators in Australia, New Zealand, Mexico and elsewhere are...
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