As global transactions increase, U.S. regulators will more closely scrutinize compliance with the USA Patriot Act and the Bank Secrecy Act. Centralizing data is the only cost-effective way to streamline AML, EastNets’ Sukhun says. Centralizing your data is so important, for fraud detection, as well as knowing your customer, he says. “The impact of regulatory compliance is underestimated,” AML’s Leibbrandt says, “especially where international payments are concerned””]
Source: https://www.inforisktoday.com/aml-fraud-global-challenge-a-3423