Compliance Basics for Banking Regulations — Flashcards | Anti Money Laundering Specialist | FatSkills

Compliance Basics for Banking Regulations — Flashcards

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Banking compliance ensures financial institutions adhere to laws and regulations to maintain integrity, security, and stability, preventing illegal activities like money laundering.

Key pillars include AML (Anti-Money Laundering)KYC (Know Your Customer), data privacy, and risk management. Non-compliance leads to severe penalties, reputational damage, and, in some cases, 20-year prison sentences for officers.

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Compliance
Not only for consumer loans; commercial credits are also subject to compliance rules.
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