Report: 64 Percent Of Countries Have Money-Laundering Risk

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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.

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Read full article » https://www.pymnts.com/news/international/2018/money-laundering-basel-aml-index-danske-bank-terrorist-financing-corruption/


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