EXPERTS DOUBT MLB AML EXPENDITURE EFFECTIVENESS – MORE MONEY NEEDED FOR CRIMINAL PROBES
February 18th, 2022
WITH around USD400 billion spent annually on AML compliance and government efforts to curb financial crime according to LexisNexis, AML experts are increasingly calling for more of this money to be spent on in depth and undercover investigations to follow money trails, delivering convictions and dirty money seizures.
There is a particular dissatisfaction with the high rate of false positives generated by financial institutions filing suspicious transaction reports (STRs) – estimated at around 95% - and what law enforcement does with such filings, noted John ...
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