Anti-Money Laundering measures AML part.1

04 September 2016

Via several posts ComplianceWise will guide you through the AML/Transaction Monitoring landscape. We will give a complete view of Transaction Monitoring. This complete view contains insights from background to future, from measures to solutions and from rules to behaviour.

AML measures: An opportunity to do better business

Stricter anti-money laundering (AML) measures and the continuing tightening of regulations continue to dominate the agenda for the financial markets. Unfortunately, so do a number of high profile compliance failures. From the recent ‘Panama Papers’ revelations to 2014’s ‘LuxLeaks’, the last few years have given rise not only to some snappy headlines, but also some hefty fines – and much less quantifiable reputational damage.

And with each new scandal comes increasing pressure on governments and regulatory bodies to find ways to close loopholes and clamp down on financial institutions who allow this to keep happening. The fact that these failings are often uncovered (and then publicised) by journalists only serves to highlight that investigations and monitoring to date have been fairly reactive and not completely effective at tackling the issue.

Just how big is the problem?

Using the upper end of UN’s standard estimate of 2-5% of global GDP as a basis, if money laundering was an economy, in 2015 it would have been the 4th largest in the world.

Anti money laundering measures

But should financial institutions and others affected be only concerned with meeting regulatory requirements and avoiding scandal? Or should they be aiming towards a proactive approach to their Know Your Customer (KYC) and transaction monitoring activities? There are certainly many benefits, beyond avoiding trouble, for those who are able to do so.


ComplianceWise thinks compliancy should be easy. We’ve teamed up with bank messaging provider SWIFT to create a  transaction monitoring solution, a transaction monitoring system which takes the pain out of AML compliance, and turns data into valuable insights.

Do you have any questions, or would you like to know more? Call Jeroen Cremer:
+31 6 20 11 79 08

Jeroen Cremer

Commercial Director

Our goal is to make compliancy as easy as possible.
With ComplianceWise you become easily compliant, effective in control, and excellent in strategic management. We help you to control risk, save money, and improve performance by using our IT application; ComplianceWise360˚.
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