Who, where, how? - de-risking in practice

Micah Willbrand (+44 (0)778 736 2899, micah.willbrand@niceactimize.com) is Director - Global AML Product Marketing at NICE Actimize (www.niceactimize.com).

Not so long ago banks’ risk maps looked very different – regulatory and criminal enforcement barely featured, but lip-service AML compliance and blatant circumvention of US sanctions have come at a high price: seven to 10-digit dollar fines, and remediation scrutinised by external monitors, have prompted radical reassessment of the customer base in light of perceived financial crime exposure. Micah Willbrand of NICE Actimize, AML technology provider to global financial institutions, talks to MLB editor Timon Molloy about firms’ efforts to balance their commercial imperative with twin regulatory aims of rule adherence while not exiting classes of customer wholesale.