BAE Issues Report on Anti-Money Laundering, Unveils AML Detection Tool for Financial Institutions

BAE Systems has released a report that offers an analysis on money laundering operations and provides suggestions on how industry can help implement anti-money laundering measures.

The company said Wednesday Robert Mazur, a former U.S. federal agent, will join BAE to unveil the report titled “How Dirty Money Moves” in London and share his insights on AML efforts.

“I feel a sense that within the AML, law enforcement and regulatory world individual accountability and responsibility is on its way to becoming a priority,” Mazur said at a BAE-hosted forum in London.

“This has been, in my opinion, missing in too many strategies that have addressed banks that have admitted criminal offenses in connection with the movement of illicit funds,” he added.

In addition to the report, BAE also unveiled a tool that works to help financial institutions detect and monitor money laundering activities.

The BAE-built AML Optimisation platform is designed to help financial services providers develop an AML program that uses analytics to reveal risks across products as well as implement rules in compliance with regulatory and internal audits.