AFME publishes “Anti-Money Laundering Transaction Monitoring in the Markets sector”

The Association for Financial Markets in Europe (AFME) has published a paper entitled, “Anti-Money Laundering Transaction Monitoring in the Markets sector” in collaboration with Ernst & Young.

Recognising the key challenge that the industry faces in identifying money laundering activities and the recent high profile cases in the capital markets space, the paper:

  • considers the effectiveness of the the current AML transaction monitoring (ALM TM) control framework and approaches in the capital markets sector;
  • identifies how existing AML TM systems can be enhanced and the evolving skillset that is needed to support it; 
  • provides a road map to support firms in designing and operating the most effective solution;
  • considers the use of data, technology, and enhanced analytics to further drive improvements, building stronger more efficient solutions and leveraging opportunities for intelligence-led investigations;
  • reviews the processes around the submission of Suspicious Activity Reports (SARs);
  • explores the advantages to the sector as a whole in establishing greater collaboration between private and public sector bodies; and
  • considers the benefits of convergence, between market abuse surveillance function and the AML TM function.

FIN. Team