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Anti-money laundering management in the spotlight: How do you compare?

According to United Nations Office on Drugs and Crime (UNODC), two to five per cent of global GDP is made up of laundered money.

This means that organisations unwittingly participate in the transfer of approximately USD $800B – $2T to fund crime.

The 2021 AML Industry Benchmarking report has been released by Arctic Intelligence, outlining how financial crime experts are managing Anti-Money Laundering (AML) compliance across the globe and ways organisations can stay on top of financial crime matters.

Some key findings of the report include:

  • 37.5% of respondents found ‘developing the framework’ the most difficult part of the risk assessment process
  • Almost one in four organisations struggled with ‘rolling out and management of the process across teams’
  • 32% of organisations advised their risk assessments take more than six months to complete or were unsure of the timeframe
  • 12.5% of respondents only conduct their risk assessments every two years.

The report outlines the top challenges faced by financial crime risk and compliance professionals, allowing for benchmarking between industry peers.

Download the full report

Further information:

Arctic Intelligence is an award-winning financial crime solution that simplifies the risk assessment process by providing defendable data-driven output to achieve compliance.

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