Anti-money laundering (AML) risk is fast evolving into one of
the key risks any business has to manage. If companies get their
AML risk management wrong, it can mean major reputational damage
and massive value destruction for investors. After all, no one
wants to be seen as an accessory to criminality.
In AML and counter-terrorism financing, things are accelerating
in Australia and around the globe and boards and managers need to
move quickly up the curve in dealing with this risk.
What's changing and why does this matter?
A couple of recent trends are highlighting AML as a key risk to
mitigate:
(1) Heightened Enforcement
- The 'why not litigate?' approach that Australian
regulators are beginning to adopt.
