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Anti-money laundering regulation requires you to obtain and log information about the customer, not to recognize money laundering and definitely not to solve it
by emteycz 5y ago
Anti-money laundering regulation requires you to obtain and log information about the customer, not to recognize money laundering and definitely not to solve it (except in very special cases applicable to mega-corporations).
- elliekelly 5y agoI’ve been the AML Officer for several large financial institutions and I can assure you they absolutely do need to recognize money laundering. They’re required to have systems, policies, and procedures in place to identify, prevent, and detect money laundering.
- emteycz 5y agoKeyword "large". Yes, we require large companies to do much more than small ones. But we require even the small ones to deal with network breaches perfectly.