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Retrieved on: 2024-03-26 15:00:03
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Summary
The article discusses the increasing complexity and challenges financial institutions face in combating money laundering, with a focus on regulatory compliance, financial technology, and identity management within the context of U.S. financial regulations such as the Bank Secrecy Act and the Financial Crimes Enforcement Network. It highlights the need for stronger measures, like Know Your Customer (KYC) requirements, in the face of financial crimes such as terrorism financing and the use of cryptocurrency in illegal activities. The perspective of industry experts like Daniela Hawkins is incorporated to underline the evolving nature of AML strategies.
Article found on: www.americanbanker.com
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