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KYC and AML policy — implementing best practice in an ever-changing regulatory environment

Heightened expectations from regulators have created an ever-more demanding regulatory environment for banks and financial institutions (FIs). Evidence of enforcement action is everywhere to be seen as firms are relentlessly held to account in the global battle against money laundering and other criminal activities. When setting internal policy, banks and FIs would do well to remember that a robust KYC framework is still regarded as the most effective deterrent to financial crime. What challenges do banks and FIs face and what ‘best practice’ solutions are available?

In this special report on implementing an industry leading Know Your Customer (KYC) and Anti-Money Laundering (AML) policy, we recap the challenges and best practices shared in our recent  webcast discussion, featuring industry experts from The Royal Bank of Scotland (RBS) and Thomson Reuters.