Boston, January 27, 2021 – As AML compliance leaders around the globe work tirelessly to combat financial crime and achieve regulatory compliance, these efforts are complicated by a rapidly evolving landscape. To overcome these challenges, AML compliance leaders are embracing the enormous upside in big data and technology. But without transparency, explainability, and constant vigilance and fine-tuning, AML transaction monitoring models may fail to deliver on their promise and purpose, and can often lead to inadequate, and perhaps incorrect, intelligence, decision-making, and outcomes.

This Impact Report explores the evolving financial crime risk landscape, the imperative of robust AML model risk management, and the approaches being taken by financial organizations. Commissioned by BAE Systems Applied Intelligence, Aite Group conducted interviews with 14 executives from financial organizations across the U.S. and Canada, and supplemented these with additional research of publicly available material.

This 30-page Impact Report contains nine figures and four tables. Clients of Aite Group’s Fraud & AML service can download this report, the corresponding charts, and the Executive Impact Deck.