You work in the anti-money laundering department of a major bank or brokerage and overhear a conversation about how suspicious activity reports are not being filed on a particular client; how the transaction monitoring system is not working properly; or how wire transfers are being made to a country or individual on a US sanctions list.
Do you: a) tell your supervisor about your concerns of a potential regulatory violation and fine; b) forget what you heard; or c) call a regulatory agency and hope to win an award? Until now, choices a and b were generally the only practical ones available.
- Chris Kentouris
- FinOps Report