Building an effective financial crimes change management program

The global regulatory landscape surrounding anti-money laundering (AML), trade sanctions, and anti-bribery and corruption is complex and dynamic. Staying informed about the applicable and constantly changing laws and regulations can be a challenging task for financial institutions, especially those with an expansive global footprint.

This paper discusses the importance of establishing a financial crimes change management program that begins with an inventory of all of the applicable laws and regulations around the globe. By creating a sustainable inventory, and implementing an effective change management program thereafter, an institution can meaningfully enhance its control environment, ease the challenges of expanding into new businesses and markets, and help minimize regulatory and legal risks.