Details

Service: Advisory, Risk Consulting, Forensic
Type: Business and industry issue
Date: 9/19/2011

Global Anti-Money Laundering survey

Our latest Anti-Money Laundering (AML) survey explores where AML fits into the changing risk and regulatory landscape facing the financial sector. It reports the views of the survey participants on their areas of focus and challenge, and also contains commentary from KPMG on what our client work in this space tells us.

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The highlights of the survey include the following:

AML is still on the radar of many banks’ leadership, but is being squeezed by other priorities.
AML continues to be a significant and rising expense for banks, but many under-estimate how much it costs.
PEPs and sanctions are a major focus for banks and governments alike, however both are far from straightforward to get to grips with.
Transaction monitoring policies and systems are generally seen as satisfactory, but with plenty of room for improvement.
KYC data is generally collected and updated both robustly and regularly, but there is great variation in the approach used.

Compliance Services and Anti Money Laundering

Are you whiter than white? Or are there shades of grey within the organization?

Anti-money laundering: It’s all about data quality

The political unrest and new considerations of tax regulations will lead to an increase of the relevance of anti-money laundering.

© 2012 KPMG Holding AG/SA, a Swiss corporations, is a subsidiary of KPMG Europe LLP and a member of the KPMG network of independent firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.