PwC EMEA AML Survey - spotlight on effectiveness

Following the release of our 2023 PwC AML/CFT Survey results last year, which provided insights into AML/CFT processes, procedures, technology and framework best practices across financial institutions in Ireland, we are pleased to announce the publication of an EMEA wide AML survey which provides AML insights from across the EMEA region.

Key takeaways from the EMEA AML Survey back up the results we found through our Irish AML Survey:

• Data quality is a major concern for AML, with 45% of respondents indicating data quality as the main impediment to increasing the use of new technologies.
• 55% of respondents will spend more than 10% of their AML budget on digital tools in the coming 2 years.
• Finding skilled staff is the most important factor for effective AML compliance. In addition to having skilled staff, respondents tend to view transaction monitoring and screening as the most effective AML controls.