In “The Convergence of Anti-Money Laundering and Cyber Security” (ABA Bank Compliance, 20 Oct. 2015), Thomas Bock, head of K2 Intelligence’s Anti-Money Laundering (AML) and Regulatory Compliance practice, notes the importance of the intersection of bank compliance and cybersecurity. According to Tom, “It is a tangled web, as cyber criminals are using both traditional and alternative payment methods to aid illegal activities and mask identities while completing scams at light-speed. With this new breed of criminal, AML teams are facing their greatest challenges to date.”
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