New Zealand

Details

  • Service: Advisory, Forensic, Anti-money Laundering, Financial Risk Management
  • Date: 29/01/2014

Contact KPMG AML

Michal Amzallag

 

Associate Director - Financial Risk Management

+64 9 363 3218



Global Anti-Money Laundering 2014 

KPMG’s Global Anti-Money Laundering Survey 2014 provides in-depth analysis into emerging AML risk areas such as trade finance and tax evasion.
Global Anti-Money Laundering Survey
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Stephen Bell on Early Edition

Listen to Stephen's interview [MP3: 2.3MB] explaining the results from the Global Anti-Money Laundering Survey 2014 particularly the risk of trade finance to New Zealand banks on KPMG Early Edition.

How is the financial services industry rising to today’s global AML challenges? Is your organization compliant with the ever-changing anti-money laundering regulations? KPMG’s Global Anti-Money Laundering Survey provides an in-depth analysis of the AML landscape with a look into emerging areas of risk such as trade finance and tax evasion, as well as looking at AML trends within the insurance and asset management sectors. In the latest edition of this survey, we gathered data from AML and compliance professionals worldwide. The survey garnered 317 respondents from the top 1,000 global banks in over 40 countries, including New Zealand.

 

Some of the key findings highlighted in this year's report include:

 

  • AML issues are moving back up the agenda for senior management
  • Costs of compliance continue to rise
  • A global approach has been adopted in the majority of cases, but there is room for improvement
  • Politically Exposed Persons (PEPs) remain an area of focus, gaining increased attention from senior management
  • Know Your Customer continues to be an area of concern
  • Sanctions compliance remains a challenge as new issues emerge
  • Transaction monitoring systems continue to represent the greatest area of AML spending
  • Regulatory approach was ranked as the top AML concern

 



Download the PDF [2.4MB]
 

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