ARTICLE · 19 JUNE 2018

Navigating The AML Compliance Minefield

Duff and Phelps

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Anti-money laundering (AML) enforcement presents a mounting risk and compliance burden for financial institutions as well as other businesses that conduct cash-based transactions.

United StatesGovernment, Public Sector

Kathleen Malone

Norman Harrison

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The below chapter was published in International Comparative Legal Guide's Anti-Money Laundering 2018.

Anti-money laundering (AML) enforcement presents a mounting risk and compliance burden for financial institutions as well as other businesses that conduct cash-based transactions. Over the past decade, enforcement of AML regulations has grown far more stringent. Financial penalties have mushroomed, and regulators are increasingly holding executives personally responsible for non-compliance. Meanwhile, the financial industry's exposure to money laundering is vast. An estimated 2% to 5% of global GDP is laundered every year.¹ Much of this cash enters the international banking system.

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