The future of AML – HSBC sets course

HSBC had it all to prove in 2012 on signing a five-year deferred prosecution agreement (DPA) in the US to correct wide-scale AML/CFT deficiencies. Seeing opportunity in challenge, the bank’s overhauled approach to financial crime goes on the offensive, harnessing the latest analytics to recast compliance and discover emergent risks. Ralph Nash, Global Head of Financial Crime Compliance, and Group MLRO, HSBC and Marc Fungard, Global Head, Research and Analytics, Financial Crime Threat Mitigation, HSBC spoke to Timon Molloy about new technology gains, pains and the drive for effectiveness.