The identification for money launderers has often been portrayed as a pursuit shrouded in complexity and mystery. But are we entangled in a meticulous web of our own making? In our pursuit to spot money launderers, have we saturated our senses with an excess of typologies and red flags, diluting our capacity to perceive the evident? Do we really need dozens of warning signs to spot money laundering? Or is this just making it too hard to see what's right in front of us? We might not catch everyone, but what if we could easily catch the most obvious wrongdoers?
In January 2024, the The Institute's Marta Lia Requeijo and Mario Menz, PhD, and Martin Woods, Chair of the Global Compliance Institute explored whether the regulated sector is making things more complicated than they need to be in the fight against money laundering; and if a simpler approach could work better. The discussion looked beyond the established norms, questioning their efficacy, and explored whether a simpler, more direct route might be possible.
We are pleased to share that the highlights of the webinar have been featured in the Money Laundering Bulletin (MLB), an esteemed publication run by Lloyd's List Intelligence and recognised for its authoritative coverage on anti-money laundering (AML) developments and compliance. The MLB is as a vital resource for professionals across the financial sector, offering insights into regulatory changes, enforcement actions, and best practices. It is an essential source for staying informed about the dynamic AML landscape, supporting organisations in their efforts to mitigate risks and adhere to global compliance standards. Through its rigorous exploration of trends, strategies, and case studies, the MLB empowers compliance officers, legal experts, and financial institutions to stay ahead of evolving threats and regulatory requirements.
Timon Molloy, Managing Editor of the MLB attended our webinar. The full article outlining the highlights of the webinar is available on the MLB website, and featured in the printed March 2024 edition. We would like to to express our thanks to Timon for writing and publishing this summary.
The Institute Events & Membership Team