Capital Markets View Point: Issue 6

Catch me if you can: Compliance v/s Business Priorities of Anti-Money Laundering Initiatives

In an environment of increased prominence of anti - money laundering in political, economic, and legal debate the author looks at anti money laundering initiatives, its challenges and short comings. The author draws attention to methods of laundering being followed and analyses them from a system development perspective given the scenario of increasing complexity of financial crime. The article suggests that early warning mechanisms should be put in place through functionalities which act as preventive mechanisms and laundering be addressed at policy level rather than being perceived as merely an operational issue.