Thomson Reuters partnered with ACAMS to conduct a survey of 253 anti-money laundering compliance leaders related to processes and activities used in response to “know your customer” requirements. The responses showed the impact the CDD Rule has had – and will continue to have – on the operations and practices of financial institutions.
It takes a number of actions to fight against money laundering. We’ve compiled five tips from TCF Bank to take back to your own institution.
As technology becomes more integral to financial industry regulation, data accuracy has become a leading concern for many institutions. In fact, a 2017 Thomson Reuters Legal survey of anti-money laundering (AML) professionals found that only 23% of participants express extreme confidence in their AML and customer due diligence (CDD) data vendors.
