Business Risk Profile: Anti-Money Laundering & Fraud Prevention

Anti-money laundering (AML) and fraud-prevention teams are often referred to as two sides of the same coin. AML teams trace the origin of funds passed through a business to ensure it is not unknowingly complicit in masking illegally earned money as legitimate. Fraud-prevention teams aim to prevent or reduce monetary losses caused by criminal acts of deception, such as identity theft and forgery. But despite the evident overlap and complementary nature of their roles, these two teams have traditionally operated separately and independently from one another.

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January 31, 2018