Alan McSweeney explores how workflow technology can help financial institutions in two key regulatory areas.
Regulating the use of workflow - Part 2 |
Part 1 |
Part 3
Well-defined processes will help identify attempts to open
accounts that may be used for subsequent money-laundering
– and a workflow system will enable those processes to be
enforced.
KYC is essentially a one-off process. It is a due diligence
that must be performed and have proven to have been performed
during account opening. AML is a continuous process that is
more complex.
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