Anti-money laundering (AML) regulation creates a number of technical challenges for financial services firms, according to financial services employees surveyed by PwC.

Complying with these regulations can become an operations nightmare as well as an unwanted cost centre for any business.


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Here are the Top 5 most significant challenges:

Fintech - Top 5 Most Significant Technical Challenges Anti-Money Laundering System Cause

According to this survey by PwC in 2016:

  • Data quality and maintenance of client information in electronic format. 33% of respondents said this was the most significant technical challenge they faced.
  • Complexity of implementing/upgrading systems. 24% said the biggest challenge was either implementing or upgrading systems.
  • Systems generating large numbers of false positive alerts. 23% of respondents said the biggest challenge was caused by having to monitor systems that generated a lot of false positives.

Source: PWC / Business Insider