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Alternative fund managers are concerned about the growing threat they are facing from money laundering risks and their organisation’s focus on Anti-Money Laundering (AML) management is set to increase over the next 24 months, according to new research from Ocorian, a market leader in regulation and compliance services for funds, corporates, capital markets and private clients.
The international study, carried out among senior leaders and senior compliance and risk executives at alternative fund manager firms which collectively manage around US$132.25 billion AUM, found that almost three quarters (73%) have seen the level of AML risks increase over the past two years. Of these, 16% have witnessed a dramatic increase. Around 20% say the risks have stayed the same and...
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