India

Anti Money Laundering Survey report 

Money laundering has not only been connected to organized crime, such as drug trafficking, arms dealing, but also to terrorists’ activities. With a rapid change in the financial services industry in recent years, alongside increased regulatory expectations and pressures, combating money laundering and terrorist financing continues to be a major challenge for the banking sector.

 

Is your organization complying with the requisite AML requirements? How often do you conduct an AML risk assessment? Are all the customer documents collected and verified before opening an account? – With the intention of helping financial institutions understand and commit to their overall AML process, KPMG launched its first survey in 2005. Since then the survey has remained a key differentiator and helped position KPMG Forensic as a thought leader.

 

India gaining membership to the Financial Action Task Force (FATF), implies that compliance with AML regulations is no longer optional as managements of financial institutions have an obligation to help ensure that their organisations are not used by money launderers to abuse the financial markets and payment systems.

 

The AML survey covers various issues such as areas of improvement in the AML system, elements of an effective AML strategy, tools to help benchmark your AML system and control against trends and peer comparisons.  The report is much sought after by banks, practitioners, regulators, law enforcement agencies as well as the media.

 

To view previous survey reports, please click on the links below:

 

 

* For full versions of these publications please contact us at  forensicindia@kpmg.com