Investment Banking AML KYC Onboarding

Guys i am just fascinated by compliance in relatiosn to BSA & US Patriot Act. It requires performing AML KYC & Onboarding check for new entrants to banking systems and tracks the cleanliness of funds while traversing the road before joining the bank.

I understand this is a pain area asthe check procedure is largely clerical and hence it is a challenge to find staf to man this regulatory compulsion. We have faced severe attriton in this dept in last 8 weeks and have hit a road block. DOes anyone within the fraternity is facing similar challenges and would appreciate if you can share the remedy.

Recruitment agencies haev not been able to provide adequate replacements and hiring temps is a no meaning solution.

Look forwrad to your inputs and wisdom.

Paddy

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