Asia’s Top Financial Crime Screening Challenges


At the Accuity Client Summit – Fircosoft Financial Crime Compliance Event, Singapore, Accuity conducted a market survey with 150+ Compliance & AML professionals to understand their financial crime compliance screening challenges. Highlighted below is a synopsis of some of the key findings:

  • In the compliance screening process, lack of automation and quality reference data were the biggest challenges for Asian financial institutions
  • Ultimate Beneficial Ownership (UBO) was found to have the most significant impact on the KYC on-boarding process
  • Most institutions are exploring automation through robotics or next gen technologies like Artifical Intelligence (AI) & Machine Learning (ML)
  • With the increasing complexities, most organisations feel that their AML/CFT risks have increased and they find it tougher to be ‘regulator ready’
  • FPR, AML/CFT monitoring, examination and reporting continues to be the biggest challenge for institutions in Asia

Download the infographic to discover insights from the AML & Compliance professions across Asia about their current compliance challenges.

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Download the Infographic