February 2, 2022 –Still recovering from the effects of the global pandemic, financial institutions (FIs) face significant financial crime risks and their anti-money laundering (AML) compliance programs must balance many external and internal pressures: ever-emerging modes of criminal attacks, the increasing burden of regulation, digital acceleration programs with growing demand for seamless customer experiences, and a greater need to operate more efficiently and do more with fewer resources and smaller budgets.
This Impact Report examines the current AML ecosystem and the key trends impacting FIs, AML compliance functions, and planned strategies and spending. Aite-Novarica Group surveyed 26 financial crime professionals, including those who attended Aite-Novarica Group’s fourth annual Financial Crime Forum in September and October 2021.
This 29-page Impact Report contains 13 figures and one table. Clients of Aite-Novarica Group’s Fraud & AML service can download this report and the corresponding charts.