The financial-services industry has been disrupted and roiled by a perfect storm of forces. Complex regulatory-compliance requirements, aging legacy systems, dated operating models, digital innovation and fintech have rapidly changed the environment for many financial institutions worldwide. To further amplify the challenges for financial institutions globally, various regulatory bodies across the globe have enacted major legislative changes, increasing the pressure on boards and C-level executives significantly. Unlike previous years, this new regulatory focus on anti-money laundering (AML) can be seen globally as various regulatory regimes converge closer to a global standard as promulgated by the Financial Action Task Force (FATF). Increasing regulatory enforcement, geopolitical changes and record-setting monetary fines have made adequate AML risk management a significant challenge for financial institutions globally. In this environment, financial institutions need to become more risk agile and move from backwards looking compliance measures to proactive risk management. This book will showcase how to transform current AML compliance efforts into more dynamic risk management solutions that help protect financial institutions against bad actors and manage regulatory risk and exposure. Based on the author’s global experience in helping financial institutions to manage their AML risks in 60+ jurisdictions, this book calls for greater urgency from boards and senior management, policymakers and AML risk practitioners to address looming risks. From corporate governance structures, tone at the top, to more efficient ways to quantify and manage risks, this book addresses key changes financial institutions must make to evolve from strict compliance to an agile risk management framework that actually addresses their AML risks in practical ways and shift the mind set from a cost center to a value creation center. “In the current environment, where we now frequently see the “largest” fine ever for various financial institutions, this book is a must read for any banking executive and board member. Written by a true practitioner with global experience, and a holistic view not only on compliance, but good corporate governance, and business as well - this should be required reading.” (Jose Antonio Quesada Palacios, President, Colegio Nacional de Consejeros Profesionales Independientes de Empresa (CNCPIE), Independent member of the board of various Public and Non Public Companies, Former Vice President for Regulatory Policy, Comisión Nacional Bancaria y de Valores) “The innovation and speed of criminal organizations demand that compliance officers receive near real time information and go beyond their technical regulatory requirements. This book should be read by every compliance officer.” (Alberto Bringas, Head of Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Compliance, Banco Azteca and Azteca Servicios Financieros) “A global challenge like financial crime requires a global approach – this book is a must read for anybody working in Anti-Money Laundering, sanctions, and doing business internationally.” (Antonio Pereira, Senior Managing Director, B. Riley Advisory Services) “In the current environment, where we now frequently see the “largest” fine ever for various financial institutions, this book is a must read for any banking executive and board member. Written by a true practitioner with global experience, and a holistic view not only on compliance, but good corporate governance, and business as well - this should be required reading.” ― Jose Antonio Quesada Palacios , President, Colegio Nacional de Consejeros Profesionales Independientes de Empresa (CNCPIE), Independent member of the board of various Public and Non Public Companies , Former Vice President for Regulatory Policy, Comisión Nacional Bancaria y de Valores “The innovation and speed of criminal organizations demand that compliance officers receive near real time information and go beyond their technical regulatory requirements. This book should be read by every compliance officer.” ― Alberto Bringas , Head of Anti-Money Laundering, Counter-Terrorist Financing and Sanctions Compliance, Azteca Servicios Financieros “A global challenge like financial crime requires a global approach – this book is a must read for anybody working in Anti-Money Laundering, sanctions, and doing business internationally.” ― Antonio Pereira , Senior Managing Director, B. Riley Advisory Services The financial-services industry has been disrupted and roiled by a perfect storm of forces. Complex regulatory-compliance requirements, aging legacy systems, dated operating models, digital innovation and fintech have rapidly changed the environment for many financial institutions worldwide. To further amplify the challenges for financial institutions globally, various regulatory bodies across the globe have enacted major legislative changes, increasing the pressure o