SAS, the world leader in analytics and business intelligence software including financial crime had partnered with Consortix, an international expert in AML to help banks in the UK with their challenges in AML compliance organized an AML event (AML compliance in practice) where the participants got insights on:

• What the new regulations bring
• What main challenges your peers are facing
• What are the best practices for tackling them and improving AML detection
• How a market leading AML system can be available for you with quick implementation thanks to embedded best practices and the Accelerator configuration

They talked about some of the key AML challenges and trends, with roundtable discussions about how to identify simple, cost-effective improvement plans. There was a first-hand account from Landsbankinn, an Icelandic bank with a 39% market share.

They discussed their experience automating pattern analysis for the detection of suspicious transactions and sharing their thoughts on best practice for managing an AML system replacement project.