Know your customer: Tackling the anti-money laundering alert overload

  • By Andrew Davies, VP, Global Market Strategy, Financial Crime Risk Management, Fiserv

This summer saw the introduction of the fourth EU Directive on Money Laundering into the European market, which outlined stricter compliance regulations for Financial Institutions (FIs). This meant that in order to tackle money laundering activities, FIs must work harder and carry out more due diligence on their customers, closely observing transactions for any suspicious activities.