Whitney Partners Executive Search Newsletter

Senior Management Is Increasing Efforts To Combat Money Laundering

Senior Management Is Increasing Efforts To Combat Money Laundering

Attention being paid by senior management to money laundering challenges is at an all-time high according to findings from a new KPMG International report. Nine in ten of respondents said that AML issues are back at the top of the agenda for senior management rather than being squeezed by competing priorities. A majority of respondents stated that money laundering is considered a high risk area within their business risk assessment, further emphasizing how seriously management deems failures to meet the regulatory requirements. "With regulatory fines now running into the billions of dollars, anti-money laundering has never been a higher priority for senior management at financial institutions," said Teresa Pesce, Head of AML Services for the Americas Region for KPMG. While the pace of regulatory changes is a big challenge for financial services firms, most organizations are planning to increase their investment in AML. The top three areas where AML budget has been invested are: transaction monitoring systems; updating and maintaining Know Your Customer (KYC) reviews; and recruitment.

Edition XIV Vol. I

  • The Oil & Gas Industry +

    The US Is The Oil & Gas Industry's Largest Source Of Growth

    The US Is The Oil & Gas Industry's Largest Source Of Growth

    The continuing surge in US oil and natural gas production, primarily from unconventional

    Read More
  • Employees +

    Study Identifies Signs An Employee Is About To Leave

    Study Identifies Signs An Employee Is About To Leave

    Those who are thinking about leaving their job may be giving off cues that others can

    Read More
  • Merger & Acquisition +

    Deal Activity Generates Merger & Acquisition Activity

    Deal Activity Generates Merger & Acquisition Activity

    Merger and acquisition (M&A) activity in the North American power and utilities industry increased in the fourth quarter

    Read More
  • Management Styles +

    What You Are Best At, Could Be Your Biggest Problem

    What You Are Best At, Could Be Your Biggest Problem

    In the book “Fear Your Strengths”, authors Robert Kaplan and Robert Kaiser say that many

    Read More
  • Senior Management Issues +

    Senior Management Is Increasing Efforts To Combat Money Laundering

    Senior Management Is Increasing Efforts To Combat Money Laundering

    Attention being paid by senior management to money laundering challenges is at an all-time high according

    Read More
  • Technology Issues +

    The OTP World Has Changed

    The OTP World Has Changed

    The strong authentication and one-time password (OTP) market is seeing steady growth due to several factors: the movement to cloud-based

    Read More
  • Private Sector Issues +

    Private Company CEOs More Optimistic

    Private Company CEOs More Optimistic

    According to PwC US's latest “Private Company Trendsetter Barometer”, 43 percent of private companies have signaled confidence in the world

    Read More
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Disclaimer:

These articles are reprinted with the permission of PR Newswire Association LLC and the views and opinions expressed do not necessarily represent those of Whitney Partners.

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Bios-MichaelZinn

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