Examining the viability of automating risk assessments in anti-money laundering programs
Booz Allen’s Financial Crime Solutions team has produced this paper to explore the value and the inherent limitations of automation within anti-money laundering. This paper also includes a practical approach to automating aspects of AML investigations.
- Rapid Expansion Of Head-Count - In lieu of regulatory violations and heightened compliance requirements, AML programs have increased staffing levels to unprecedented levels.
- Examining The Viability Of Automation - Due to the nature of AML investigations, human analysis will always be required in assessing potential money laundering risk.
- What Can Be Automated? - By examining the sub-processes of AML investigations, we can identify aspects of the investigative process which can be automated.
- The Future State of AML - As technology continues to advance and automation becomes more of a reality, AML programs will evolve and the role of analysts will change.
