Financial Crime Compliance Screening Challenges underlying banks in Sri Lanka – 2018 Survey Results


At the recent Sri Lanka AML conference, Accuity conducted a market survey with leading banks Compliance & AML professionals to understand their financial crime compliance screening challenges. Highlighted below is a synopsis of some of the key findings:

  • For account screening, in-house research was found to be the most cited source on linked accounts or the relationship of the account holder, which could be a challenge in maintaining operational efficiencies and meeting global compliance standards.
  • Sri Lanka’s regulatory standards for financial institutions need to be made more robust and automated compliance processes should be encouraged, to meet its goal in moving off the Financial Action Task Force (FATF) grey list.
  • It is important for the local financial institutions to have a sustainable regulatory system that can provide more efficient financial intermediation and be regulator ready, in meeting global standards related to Anti-Money Laundering (AML) and countering the Financing of Terrorism (CFT) measures.

Download the infographic to discover insights from the AML & Compliance banking professions in Sri Lanka about their current compliance challenges.

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Thank you for your interest in our resources and insights. You can access “Financial Crime Compliance Screening Challenges underlying Banks in Sri Lanka” by clicking the link below.

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Download the Infographic