OBLIGED ENTITIES SHOULD KEEP REVIEWING AND REFORMING AML SCREENING RED FLAGS, SAY EXPERTS
May 12th, 2023
Anti-money laundering is a detection game, with AML officers (AMLOs) looking for red flags that may indicate crime-tainted transactions, and then digging deeper. But that usually requires automated alerts which need to be managed and tweaked, with algorithms configured according to risk.
Alerts need to be given their proper emphasis, depending on an obliged entity’s profile, but there is advice available for AML managers configuring alert response systems.
US-based AML transaction screening service provider ComplyAdvantage noted in a 2023 blog that the ...
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