Why know your transaction (KYT) is the AML capability financial institutions cannot afford to miss
The June arrests of Chilean bank workers accused of ties to an international criminal organization has again underscored the need for anti-money laundering (AML) detection to embrace real-time transaction intelligence. Authorities allege that a rogue Santander Chile employee was a key player in an $85-million USD money-laundering operation that channelled funds through accounts at almost every major bank in the country.