A risk-based approach to AML: A controversy between financial institutions and regulators
Purpose – The purpose of this paper is to present a risk-based approach to anti-money laundering (AML) systems. Design/methodology/approach – The paper covers the areas of: customer due diligence, customer acceptance, risk management and implementation. Findings – Regulators and financial institutions need to co-operate so that AML standards can be set within a risk-based approach, thus enabling a country to protect itself in the best possible and affordable way. Originality/value – The paper outlines the controversy present between financial institutions and regulators in the approach to AML.
Year of publication: |
2007
|
---|---|
Authors: | Wit, Jos de |
Published in: |
Journal of Financial Regulation and Compliance. - Emerald Group Publishing. - Vol. 15.2007, May, 2, p. 156-165
|
Publisher: |
Emerald Group Publishing |
Subject: | Financial institutions | Money laundering | Risk management |
Saved in:
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