A regulation designed to improve data quality has degraded the efficiency of the system it was meant to strengthen. The RFI surge following Regulation (EU) 2023/1113 is not a sign of better compliance.
#AML #WTR #FATF #Compliance #FinancialCrime #EBA #Regulation#RiskBasedApproach #WTRKnowledgeHub
#AML #WTR #FATF #Compliance #FinancialCrime #EBA #Regulation#RiskBasedApproach #WTRKnowledgeHub
The PO Box Paradox: When Better Data Creates Worse Outcomes for Banks
When the European Union adopted Regulation (EU) 2023/1113 on 31 May 2023, it recast the Transfer of Funds framework with an unambiguous objective. The regulation sought to close long-identified tracea...
wix.to
March 21, 2026 at 9:47 AM
A regulation designed to improve data quality has degraded the efficiency of the system it was meant to strengthen. The RFI surge following Regulation (EU) 2023/1113 is not a sign of better compliance.
#AML #WTR #FATF #Compliance #FinancialCrime #EBA #Regulation#RiskBasedApproach #WTRKnowledgeHub
#AML #WTR #FATF #Compliance #FinancialCrime #EBA #Regulation#RiskBasedApproach #WTRKnowledgeHub