Strengthening AML Frameworks: Balancing Global Standards, Local Challenges, and Technological Advances

Achieving Consistency in Global AML Standards

The panel discussion began with an exploration of the challenges inherent in achieving consistency within a global AML framework. Participants acknowledged the tension between the need for harmonised standards and the practical reality of complying with jurisdiction-specific regulatory requirements. Banks recognised the importance of centralised compliance programmes that establish robust minimum standards while remaining flexible enough to adapt to local rules. One speaker described the goal as having “as few local appendices or uplifts as possible” to ensure clarity and efficiency. However, achieving this balance is not without its difficulties.

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