How do you keep up with rapidly evolving regulations while ensuring minimum exposure to risk for your financial institution? After hearing from hundreds of AML compliance professionals from across the globe, we've summarized the current challenges faced by this group as well as tips to help you address modern compliance issues head-on.

Key survey findings include:

• Making a clear connection between a client and high-risk entities is a major challenge for 45% of AML professionals
• 50% think firms need to focus more on AML crypto risk
• 39% believe their AML compliance program is too manual
• 34% have trouble with testing, validating, and documenting risk models
• 29% have a challenge adapting AML risk scoring models to fit recent development

About Alessa by Tier1 Financial Solutions

Alessa by Tier1 Financial Solutions is an integrated AML compliance solution that offers customer due diligence, sanctions screening, transaction monitoring, and regulatory reporting. It is used by banks,  MSBs, fintechs, and gaming and it allows AML compliance departments to take a risk-based approach in their programs. If you would like more information about Alessa, email us at alessa@tier1fin.com.