Kharon’s Whitepaper examines ‘The Case for Urgent AML/CFT Modernization’

Key recommendations include enhancing transaction screening and monitoring by integrating open-source intelligence, improving customer due diligence to detect associations with sanctioned entities, and incorporating export controls compliance into AML/CFT programs. The paper also supports a risk-based approach that allows for regulatory exemptions for low-risk institutions, aiming to allocate compliance…