Video on Identifying the Right AML Solution

Using the appropriate technology to support AML operations is becoming important as a result of evolving financial crime typologies and shifting AML requirements. All regulated entities need to consider utilising the capabilities of cutting-edge technologies and solutions to improve the accuracy and efficiency of their AML compliance programmes.

The AML compliance obligations placed on the company must be comprehended and assessed by the regulated entities. The entity’s compliance tasks must take into account the relevant regulatory environment as well as the findings of the Enterprise-Wide Risk Assessment.

Two or three options that best fit the AML compliance criteria and the entity’s compliance budget must be shortlisted by the regulated entity. The chosen service providers must be asked to present the features and functions of their solution to the regulated body.

After the demo sessions, you need to weigh the benefits and drawbacks of each chosen solution to choose which one is best for your AML compliance program. The regulated entity can only find the ideal AML solution to guarantee prompt compliance with regulatory requirements and reduce the risks of financial crime by taking the appropriate approach.

Chapters

0:00 Introduction on Identifying the Right AML Solution
0:40 Assessment of AML Compliance Requirements and documenting the BRD
1:20 How to identify and shortlist suitable options for AML Solution
2:05 Requesting solution demonstration
2:33 What should regulated entities ensure before onboarding chosen AML Solution?
2:56 How can the regulated entity identify the right AML Solution?
3:10 Conclusion and regards

Video on Identifying the Right AML Solution

Video on Identifying the Right AML Solution

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