The AML system is broken. The money spent by banks exceed recovered funds many times over and the persistent lack of results continues to disappoint. Here are a couple of suggestions to remedy it.

Following the 2008 financial crisis regulators and the industry resolved to improve their control of the OTC derivatives markets and a raft of regulations ensued.

MONEYVAL's 2020 report highlights major differences in AML/CFT expertise and resources between member countries. A more level playing field between countries is crucial to improving success in…