The global regulatory landscape surrounding anti money laundering (AML), trade sanctions, and anti-bribery and corruption is complex and dynamic. Staying informed about the applicable and constantly changing laws and regulations can be a challenging task for financial institutions, especially those with an expansive global footprint.
This paper discusses the importance of establishing a financial crimes change management program that begins with an inventory of all of the applicable laws and regulations around the globe. By creating a sustainable inventory, and implementing an effective change management program thereafter, an institution can meaningfully enhance its control environment, ease the challenges of expanding into new businesses and markets, and help minimize regulatory and legal risks.
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The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.