Correspondent and respondent banking relationships are vital to the global financial system, providing banks and their customers access to financial services across jurisdictions and facilitating trade, economic growth and financial inclusion. However, the complex and indirect relationships involved in correspondent banking make it inherently more susceptible to money laundering. Efforts to mitigate these risks, like Know Your Customers’ Customers (KYCC), are often costly, reducing the profitability of correspondent services. Are you managing the money laundering risks of respondent banks in a manner that is both effective and cost-efficient? Join this panel discussion with NICE Actimize to learn what you can do to better manage the risk of money laundering through correspondent banking without resorting to de-risking.
Understanding the key money laundering risks posed by respondent banks and their customers
Learning best practices for better understanding and managing the KYC and AML risks of your respondent banking relationships
Identifying technology systems and innovations that can strengthen your correspondent banking risk governance, preserve account relationships and remove the need for pre-emptive remedies such as de-risking
AML Compliance Skills and KYC/CDD
Predicate Crimes and Typologies
Investigations and Suspicious Activity
Governance and Oversight