ACAMS is the largest membership organization dedicated to enhancing the knowledge and skills of financial crime detection and prevention professionals worldwide. In my capacity as head of compliance here at Auka, I recently wrote a piece for their industry news site, ACAMS Today, which looks at the future of anti-money laundering compliance.
Having worked for the United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), large tech companies such as Airbnb, major banks and payments fintech companies for more than a decade, I’ve seen this space evolve considerably. The impact of technology – specifically AI and machine-learning – means that we’re starting to see a distinct shift in focus for compliance departments. One major repercussion is that many traditionally staff-heavy departments are looking at large headcount cuts in favour of more efficient technology solutions.
This piece outlines three of the areas I believe will have some of the largest effects on compliance in the coming years. These areas are: investigations, know your customer (KYC) and machine learning. Click here to read more or get in touch to discuss these areas further.