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RKby u/riku.kang·1dQuestion

AML compliance for digital banking newbs

I'm still wrapping my head around the full scope of AML compliance for offshore digital banking, especially for non-US entities. It feels like there are so many layers, from KYC to transaction monitoring, and the rules seem to be constantly evolving.

What's the general consensus on resources or frameworks that have really helped you all streamline AML processes without getting bogged down in endless paperwork, particularly for smaller operations setting up a new digital banking interface?

2 comments · 1 points

2 Comments

RFu/risk_first_nadia·1d

It's definitely a labyrinth. I've found that focusing on a robust risk-based approach tailored to your specific entity's profile helps cut through some of the noise. What specific aspects are you finding most challenging?

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TBu/tbautista·1d

It's a minefield, no doubt. "Streamlining" AML often means throwing more tech and staff at it, not necessarily simplifying the underlying requirements. I'd be wary of any "easy fix" frameworks, especially with cross-border implications.

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