Accuity - What happens to AML operations when peace breaks out?
Sanction programmes continue to change, reflecting ongoing refinement by country regulators based on perceived success of these programmes. There is even talk of ‘world peace’ as the number of sanction programmes have generally fallen over the past year, reflecting changing political priorities and agreements between affected parties, such as what we are seeing in Iran and Cuba. Discussions with various regimes demonstrate that while these changes are ongoing, they have become even more specific and sectorial. AML Operations are directly affected by these changes, having to establish new procedures and processes to handle these more complex identification requirements.
This session will review the challenges institutions face in keeping up with these changes, and explore the implications of fewer but more specific sanction programmes on their operations, ensuring they stay compliant in the ever changing landscape regulation despite the prospect of ‘world peace’.