Tactics for Negative News in Financial Compliance Programs
November 26th, 2018
In the array of criminal risks, regulatory expectations and program pitfalls compliance officers have to juggle when creating, adjusting and running financial crime compliance programs, one term rising in recent exam cycles is becoming particularly troublesome: “negative news.”
That’s because although negative news seems like a straightforward exercise – at its heart, financial institutions subject to anti-money laundering (AML) rules must check news sites and other online portals to ensure a client or company hasn’t been arrested or tied to a heinous crime – carrying out this mission in practice is anything but.
The goal of this eBook is to help financial crime compliance professionals in several areas related to negative news (also known as adverse media) so they can better balance AML resources for improved results, satisfy ever more critical examiners, create less work for independent auditors and, the pinnacle of any AML program, stop and report on risky parties attempting to move illicit funds through their institution.