The financial services industry is facing a rapidly evolving landscape when it comes to anti-money laundering (AML) compliance. Regulatory requirements are becoming increasingly complex, while financial criminals are employing more sophisticated tactics to evade detection. In this context, financial institutions are under immense pressure to future-proof their AML systems and ensure they remain effective in the face of these challenges.
Globally, regulators have imposed over $2 billion in AML fines in recent year soring the critical need for robust systems capable of responding to both current and future risks. In this context, The Payments Association sat down with Onnagh van den Berg, global head of product of Napier.Ai and Financial Crime 360 panelist, to discuss the topic of future-proofing anti-money laundering (AML) systems ahead of the conference on 19 November.