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The 2021 BSA/AML and Fraud Staff Survey by Abrigo: Top Issues for FinCrime Fighters

Bank Secrecy Act (BSA)/anti-money laundering (AML) and fraud staff are more vital than ever in safeguarding the U.S. financial system. The strategies and techniques of money launderers, terrorists, and other fraudsters change constantly, but the pandemic and related financial impacts have ramped up the velocity of activity.

Abrigo surveyed more than 300 BSA/AML and fraud professionals, from both banks and credit unions, to benchmark the significant issues and challenges they are currently facing. BSA and compliance officers, BSA analysts, and other professionals participated in the survey, which ran from April 1, 2021-June 4, 2021.

The 2021 BSA/AML & Fraud Staff Survey by Abrigo found that while some challenges are perennial, compliance professionals are also grappling with a range of emerging issues and trends, such as cryptocurrency and banking cannabis-related businesses (CRBs). This whitepaper explores those topics, along with suggestions from industry experts for BSA/AML and fraud professionals for managing these matters of critical importance in an ever-changing environment.

Download to learn:

  • How your institution compares with peers to help gain perspective on daily activities and practices
  • Survey results on top obstacles, SAR filing, detecting human trafficking, consolidation of BSA and fraud departments, and more
  • Tips and additional resources your financial institution can incorporate for continuous improvement

View our webinar for a discussion of the survey results and ways for financial institutions to improve their BSA/AML programs.