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The programme aims to determine how the anti-money laundering (AML) regime needs to be updated in order to be more effective and to reflect today’s technological landscape.

Established in March 2018, the  programme recognises that better information sharing has enhanced the effectiveness of AML in recent years. Beyond these initiatives, however, wider changes are required in order to allow stakeholders to make the most effective use of this information and respond to new challenges.

The programme aims to answer two key questions:

How can core elements of the AML regime be improved to create anenabling environment for the use of technology?

Priority areas of research include:

1.       The reporting mechanisms (other than suspicious transactions reports) that provide the most effective and proportionate basis for the use of advanced analytics by AML supervisors and financial intelligence units;

2.       Regulatory changes needed in order to allow and encourage the most effective use of technologies in the private sector.

How should the AML framework be adapted in order to address today’s financial crime landscape?

Priority areas of research include:

1.       The threat stemming from the proceeds of emerging crimes such as ransomware;

2.       The vulnerabilities of sectors such as virtual currencies and e-commerce that call for an innovative AML response.

Research for the Financial Crime 2.0 Programme will be carried out by RUSI's Centre for Financial Crime and Security Studies.

It is funded by EY, Lloyds Banking Group and Thomson Reuters.

Contacts

Tom Keatinge
Director, Centre for Financial Crime and Security Studies, RUSI
Olivier Kraft
Research Fellow, Centre for Financial Crime and Security Studies
Anton Moiseienko
Research Analyst, Centre for Financial Crime and Security Studies