AML professionals must move to a more proactive posture, identifying and adapting existing management strategies to get in front of potential problems, adding value through front-end efficiency, rather than being seen as either an impediment or a back-end security and compliance function. Consider that few members of management have any AML training. For most members of senior management, AML was in its infancy when they were rising through the ranks. But few company AML teams include people with any significant operational expertise. The opportunities for potential miscommunication seem obvious.
- Chapter 6: Discovery and Prevention
- from Money Laundering Prevention: Deterring, Detecting, and Resolving Financial Fraud
- Publisher: John Wiley & Sons
- Released: June 2011
AML software developers have even bigger disconnect.
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