The year 2023 was an eventful one from an Anti Money Laundering standpoint. New trends have emerged, while some long-standing trends have become less popular. The AML industry cannot expect a sudden and complete shift toward new practices as reliance on traditional methods is quite strong.
Yet, new developments continue to happen, and we may have a totally different AML industry in the future. Some trends are likely to remain at the forefront of these changes.
Real estate is still the most lucrative option for people involved in money laundering. The pricing is still subjective, and cash deals still dominate the sector.
The AML laws were not quite robust with respect to the real estate sector. Recently, there has been a worldwide trend oriented toward tightening AML rules in real estate.
AML has shot to the top of the priority list for corporate executives since the commencement of the crisis in Ukraine. The war between Russia and Ukraine has been the cause of many of the new sanctions applicable to the AML industry.
The requirement to comply with new rules and regulations also allows enterprises to take AML more seriously than ever.
This issue provides all the latest developments relevant to the AML landscape.