Anti-money laundering: regulatory compliance and challenges

Abstract

The aim of the present Master degree thesis is to shed light on regulatory compliance matters concerning current anti-money laundering issues daily faced by Banks. The need to delve into the topic stems from the discussions about the matter and the importance of the issues acquired so far as well as the regulatory and supervisory gaps envisaged. Technological development seems to have acquired importance as it is deemed the promoter of the shaping of the regulatory framework. Further research is needed and this paper shall give a contribution to the ever-evolving studies on the matter. It was, indeed, with the introduction of an Action Plan by the European Union that increasing awareness came into play.

I will present my research paper in five chapters highlighting first the fundamentals of Banking, focusing on the compliance function, then I will pass to an outline in the money laundering sector before turning into the regulatory and supervisory framework adopted, both at European Union and National Level. The same topics will be discussed for what concerns Cryptocurrencies. I will critically discuss regulation already in place and the supervisory framework encouraging to further analysis and research. However, this paper shall be intended to give a serious contribution to research, highlighting some aspects that have been neglected so far.