Anti-Money Laundering Survey 2007

PricewaterhouseCoopers launches findings of first Anti-Money Laundering Survey

July 2007

PricewaterhouseCoopers undertook a UK financial services industry Anti Money Laundering (AML) Survey in the first quarter of 2007, nine months after the FSA’s move to replace previous AML rules with broader requirements in the Senior Management Arrangements, Systems and Controls (SYSC) sourcebook.

148 interviews with money laundering reporting officers (MLROs) and other compliance professionals with AML responsibilities were conducted by our International Survey Unit (ISU), our Global Centre of Excellence for market research within the firm. All of the interviews were conducted under the Code of Conduct of the Market Research Society.

The survey explores how things are progressing under the risk based approach, investigates the obstacles to and benefits of the regulations as well as identifying some common issues and pointing to some of the challenges for the future.