Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
FINANCE

2021 AML Trend Foresights for 28 Experts from 17 Different Countries 

Published On :

While left 2020 behind, we see last year was challenging to fight against financial crime like all the other sectors. COVID-19 has affected many industries. The same challenges will likely occur in 2021 as the virus is still not losing its impact worldwide. Some gaps in AML compatibility emerged in epidemic conditions, and criminals tried to fill those gaps. Therefore, in 2021, regulators such as the FATF and the European Union may increase their regulations to fill these gaps.

As Sanction Scanner, we predict that regulatory pressures will continue and even increase in 2021. We believe that institutions at risk of money laundering should be more concerned with AML compliance. Technology and artificial intelligence can provide significant benefits in ensuring this compatibility, and as a result, 2021 can be called the most effective year of artificial intelligence compared to other years. Also, in 2021, criminals may discover new ways to launder money.

We asked 28 experts from 17 different countries to, “What are your expectations about AML trends in 2021?”. We have compiled the 2021 AML Trends views and received them from experts into a report. You can see possible 2021 AML scenarios in the report.

Report Highlights in Brief:

  • Fraud will be the largest trend in AML for 2021. 2021 will be “The Year Of Fraud,” and post 2021 at all major banks, Fraud and AML Functions will be fully combined into one department at all major banks by the end of the year.
  • Geopolitical worries will bleed into the AML realm in the form of additional sanctions and related AML activity.
  • BSA/AML enforcement actions in the USA will increase based on newly appointed financial regulators who believe in compliance, regulation, and enforcement, replacing those who believe that the market knows best.
  • The pace at which virtual assets are picking up pace around the world there is not looking back and only regulating the same will effectively combat the evils of money laundering.
  • Digitalizing all processes and products, investing high tech resources and experts will bring super-fast, simple, and customer-oriented solutions.
  • The main challenge for all of us in the AML sector will be to update our control processes to monitoring operations with Stablecoins.

You can download the report in here.  LINK- https://sanctionscanner.com/expected-aml-trends-in-2021

About Us: 

Sanction Scanner is an Anti-Money Laundering solutions provider. We aim to provide cost-effective AML solutions that businesses of all sizes can use. Today, we are happy to serve many countries with our solutions, such as global AML Name Screening, AML Transaction Monitoring and Adverse Media.

For more information, please kindly contact:

Media Contact:
Name*: Sevde Erciyes
Email*: Marketing@sanctionscanner.com
Company*: Sanction scanner
Phone: +90 (212) 963 01 84
Address: Yıldız Technical University – Yıldız, Technopark C1 – No:106-8, Istanbul,Turkey
Country*: Turkey
Website* : https://sanctionscanner.com/

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts