AML/CFT colleges play a critical role in coordinating supervisory efforts to address money laundering and terrorist financing risks across borders.
Highlights from the Report:
- 264 AML/CFT colleges are now operational, with 34 new colleges established in 2023 to strengthen cross-border supervisory collaboration;
- Financial Intelligence Unit participation increased to 161, fostering better information sharing for actionable insights;
- Supervisors identified challenges in applying a risk-based approach and aligning joint actions, signalling the need for enhanced cooperation; and
- Greater adoption of innovative technology and RegTech is essential to tackle issues like false positives and improve monitoring
✅ Organisations should prioritise resource allocation, governance improvements, and RegTech integration to strengthen their AML/CFT frameworks and mitigate risks.
Advisory and Transformation
AML/CTF/CPF
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