Bruno Szego was speaking at the European Anti-Financial Crime Summit (EUAFCS) and underscored the importance of cross-sector collaboration in tackling financial crime.
The 3 immediate priorities for AMLA include:
➡️ Establishing operational foundations;
➡️ Building supervisory and financial intelligence unit (FIU) coordination capacity; and
➡️ Fostering a culture of cooperation in AML.
🗓️ Firms operating in the EU should conduct a comprehensive review of their overarching AML/CTF frameworks to ensure they are robust and identify any weaknesses for remediation ahead of AMLA commencing formal work later this year.
💡 Plenitude’s Advisory & Transformation Services deliver independent assessments, helping clients to identify potential gaps in frameworks, systems, and controls to maintain compliance in an evolving regulatory landscape. Visit our website for more information: https://www.plenitudeconsulting.com/services/advisory-and-transformation