Anti-Money Laundering – Part 2 Testing & Monitoring

In the latest episode of our Risk & Accounting Advisory podcast, the second of a two-part series, Nate Regimbal, Digital Advisory New Practices & Solutions Leader, joins Sam Halaby, Senior Manager in Risk Advisory, and Dan Gallagher, from the Firm’s Information Assurance & Cybersecurity practice, to discuss Anti-Money Laundering Model (AML) Testing & Monitoring best practices. Their conversation provides insight into conducting model testing, the importance of ongoing monitoring and how to perform ongoing monitoring. This episode provides an outline of the AML Validation components a financial institution should review to ensure the accuracy of the AML data and alerts, and compliance with regulatory requirements.

Listeners will learn about:

• What to focus on during set-up and validation of model-testing and the aspects of each testing area
• Why ongoing testing is important and how to perform periodic testing
• The key limitations of Anti-Money Laundering Models 

Related Resources 

• Anti-Money Laundering (AML) Model – Part 1
• Podcast: Data Management Best Practices for Financial Institutions
• Regulatory Compliance Digest | September 2023 

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