What’s wrong with AML?
Moody’s Talks: KYC Decoded
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The Importance of Incentives in Financial Crime Prevention
The way that banks are regulated today, they are regulated through discipline, not reward. So my personal view is you've got to have carrots as well as sticks. And I also think that the incentive programs, so let's take many people don't know this, but have you ever heard of public benefit corporations? FinSEN only has a budget of what 220 million dollars. The money that is captured for those fines should actually go towards programs and platforms which will actually prevent financial crime.
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