Publication | ABA Banking Journal
A Moving Target: Pandemic Impacts on Anti-Money Laundering Compliance
Dustin Palmer, Christopher Sidler, and Conor Stanhope
Bank Secrecy Act /anti-money laundering programs have faced substantial impacts during the COVID-19 pandemic, including operational shocks, rapid and dramatic changes in economic activity, and lasting shifts in customer behavior.
While many severe impacts of the pandemic on financial institutions soon may be in the rearview, several factors will continue to affect BSA/AML programs.
Dustin Palmer, Christopher Sidler, and Conor Stanhope discuss five lessons learned from designing and operating effective compliance programs.