Fortent provides survey of top anti-money laundering professionals
 Risk and compliance solutions provider Fortent conducted a survey of top money laundering compliance officers.
The survey reveals that Asia has experienced the biggest increase in money laundering risk. 30% of respondents at institutions with global operations identified it this way.
Another finding of the survey was that trade finance and beneficial ownership are top areas of expected regulatory interest over next 5 years. Asia and the Middle East were identified as regions of particular concern for trade finance.
It should be noted that 71% of respondents considered retail banking to be the most sensitive line of business as regards money laundering risk.
According to the survey, private banking and electronic “cash” systems are increasingly “hot” areas that have to be observed over the next 3 years. These include smart cards, debit cards and online value transfer systems that influence the economy.
George Faux, Group Executive, Client Relationship Management of Fortent, said that the information collected from a diverse group of global financial institutions reveals that “there are significant concerns - not the least of which is that more than 60% of respondents expect criminal activity to increase”.