MANAGEMENT CHALLENGES RELATED TO THE CHANGES OF THE ANTI-MONEY LAUNDERING POLICIES IN 21ST CENTURY
DOI:
https://doi.org/10.12775/AUNC_ZARZ.2020.03.004Keywords
Anti-Money Laundering, banking regulations, Know Your Customer, financial terrorism, financial institutionsAbstract
In this paper we will make a brief preface into AML regulations and its evolution in recent years. As first we will start with several definitions, later on we will show how those regulations have been changed and how they are currently being. In the second part of the article we will focus on the influence of changes on the banking system and other financial institutions. Afterwards we will show the examples of fines which those institutions had to pay due to not being compliant with all regulations and the most recent events in regard to violations of anti-money laundering policies.References
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