Lack of Resources, Turnover are the Largest Challenges for the United Nations AML Unit, Says U.N. Official

Anti-money laundering compliance officers at financial institutions who have to cope with a lack of resources aren't alone. The United Nations' anti-money laundering efforts are global in reach and also suffer from limited funding and staffing, according to Delphine Schantz, the anti-money laundering advisor at the United Nations' Global Programme against Money Laundering (GPML). Among the challenges GPML faces are providing technical assistance and training to vast regions, including Africa, that have multiple languages and legal regimes, said Schantz. And, when GPML begins to make headway in a region, it often loses the individuals it trained to the private sector...