- Service: Advisory, Risk & Compliance, Forensic
- Type: Survey report
- Date: 2/7/2012
Post India’s membership to the FATF, the focus on anti-money laundering (AML) initiatives has increased. While AML initiatives have become part of the senor management level agenda for most companies, their execution is found wanting. As legislation around AML evolves, organizations are realizing that AML is not just a compliance tool but a risk management tool. Our survey captures this sentiment highlighting the key areas in AML compliance – KYC norms, client screening, transaction filtering and monitoring, reporting mechanism, AML awareness creation and the cost of compliance.
We also conducted a Webinar on Wednesday, 28 March 2012 on the highlights of the India Anti-Money Laundering Survey 2012 as well as the key challenges faced by the industry in complying with the guidelines. To access a recording of the web-ex discussion, please click on the following link - Webinar