Mind the gap

Navigating emerging model risks

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Beware of anti-money laundering implementation gap pitfalls: What you need to know (Part 1)


Many financial institutions have invested heavily in automating key anti-money laundering (“AML”) compliance controls over the past several years, yet few institutions are satisfied with the effectiveness and efficiency of their AML programs. Some key causes of ineffective compliance, from governance failures to insufficient staffing, have been discussed in prior issues of PwC’s Banking & capital markets issues.

Effective implementation is another critical component for AML program success; it requires that institutions find and bridge their so-called “implementation gaps.” In this publication we address the first step of the process: where to look for the gap(s). In the next edition of Banking & capital markets issues, we will discuss how to bridge the gaps.