June 22, 2009 11:08 ET

Regulators Demand Continued Anti-Money Laundering Vigilance From Financial Institutions

ROCKVILLE, MD--(Marketwire - June 22, 2009) - has announced the addition of TowerGroup's new report "Anti-Money Laundering Today: Consistent Challenges, Converging Offerings, Burgeoning Opportunities," to their collection of Banking & Financial Services market reports. For more information, visit

In 2009, money laundering accounts for 2% to 5%, or $1.3 to $3.2 trillion (USD), of world gross domestic product (GDP) and is growing at a compound annual rate of 6.5%.

Regulators are demanding continued anti-money laundering (AML) vigilance from financial services institutions (FSIs), despite global economic challenges. Financial crime is a recession-proof industry; fraudsters, expecting many banks to have limited resources, will seek out opportune targets for their money-laundering activities.

A best-practices approach to AML compliance includes taking an integrated, enterprise view that provides better protection at a lower cost than disconnected efforts within silos.

FSIs can repurpose information captured in AML systems to streamline new product development, transforming AML from a sunk cost into a revenue-neutral undertaking.

For AML compliance to improve consistently across the financial services industry, greater collaboration and knowledge sharing must take place at institutional, regulatory, and international levels.

Topics covered in the report include...
The State of AML Today
The Global State of AML Compliance
Getting More from AML Investments
The Future Direction of AML
Potential Challenges

For more information visit

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