Over the past decades crime has increased at a staggering pace on a global basis. Today’s criminals are sophisticated and highly motivated to cleanse their money from being traced back to the illegal activities where it was generated. It is incumbent upon all investment managers and their related service providers to fulfill their important role as the first line of defense against money laundering activities. This involves the use of operational safeguards within investment firms that aim to discourage criminals by increasing the risk of discovery and prosecution of money laundering. In this day and age, managers that fail to properly toll the line will not only fall out of favur with regulators and auditors, but will be challenged to grow and maintain their assets under management.
June 28, 2017