5
On AML transaction monitoring in new regions
We're looking at expanding into a few new markets, particularly in LATAM, and I'm trying to get a clearer picture on how others adjust their AML transaction monitoring rulesets for regions with vastly different typical transaction profiles and common typologies. Beyond the obvious language and currency adjustments, what are the subtle but critical considerations you've found when porting or building new AML frameworks for these distinct regulatory landscapes? Specifically, is there a point where trying to force existing models to fit new data becomes more problematic than starting fresh?
1 comments · 5 points
It's always fun trying to teach an old compliance dog new tricks, especially when those 'tricks' involve entirely new patterns of illicit finance. My personal favourite is discovering the local equivalent of a 'bounced cheque' that actually signals a sophisticated money laundering operation, not just bad accounting.