|More from: | PYMNTS |||
Amid the headlines detailing the billions of dollars in money laundering done through conduits like Danske Bank and Deutsche Bank, among others, a report shows that the problem is a global one — and that it is getting worse.
Certainly the topic is a timely one, and here we delve into why the current anti-money laundering (AML) system and standards in place are less than optimal. In an interview with Karen Webster of PYMNTS, Akli Adjaoute, founder and CEO of Brighterion, said the rules-based system adopted by banks and others battling criminal activity are “pretty much useless.” The tech and rules in place simply go about generating volumes of false positives and are hardly efficient.
Read full article » https://www.pymnts.com/news/international/2018/basel-aml-money-laundering-risk-terrorist-financing/
About | PYMNTS |
PYMNTS.com is reinventing the way in which companies share relevant information about the initiatives that shape the future of payments and commerce and make news. This powerful B2B platform is the #1 site for the payments industry by traffic and the premier source of information about “What’s Next” in payments and commerce. C-suite executives, company founders, and investors turn to it daily for these insights, making the PYMNTS.com audience the most valuable in the industry. It provides an interactive platform for companies to demonstrate thought leadership, popularize products and, most importantly, capture the mindshare of global decision-makers. It’s where the best minds and best content meet on the web. Innovations in payments and commerce have become highly intertwined. PYMNTS covers every aspect from retail reinvention to the Internet of Things.