Boston, December 1, 2020 –As business gets faster and more complex, financial crime threats amplify, and regulatory pressures mount, sustaining effective AML programs gets more difficult and costly. The COVID-19 pandemic has only ramped up the need for more resources and better technology. Even with increasing investments of time, money, and resources, the path to winning the war against financial crime is besieged with multiple obstacles, pressures, and pain points.

This Impact Report examines the current AML ecosystem and the key trends impacting FIs, their AML compliance functions, and their planned strategies and spending to keep up with sophisticated criminal networks and an ever-evolving regulatory landscape. Aite Group surveyed 22 financial crime professionals from financial services firms across the U.S. and Canada, including those who attended Aite Group’s third annual Financial Crime Forum, in September 2020.

This 33-page Impact Report contains 14 figures and one table. Clients of Aite Group’s Fraud & AML service can download this report, the corresponding charts, and the Executive Impact Deck.