Malaysia / money laundering: AML Net Sdn Bhd featured in major interview
Anti Money Laundering Network chairman in major interview in leading newspaper
The Star, one of the largest circulation newspapers in Malaysia, has conducted a major interview with Nigel Morris-Cotterill, CEO of The Anti Money Laundering Network and MD of AML Net Sdn Bhd.
Extract:
When he was asked what exactly counter-money laundering measures are, Nigel Morris-Cotterill, chairman of the Anti Money Laundering Network group, who is based in Kuala Lumpur to head AML Net"s product development, pointed out that knowledgeable and alert staff is what would most assist a bank in reducing the incidence of money-laundering. He said that technology hasn"t reached the point where it can solve the problem.
"Simple transaction-monitoring that operates on a series of rules can provide a guide to what transactions should be more closely looked at," said Morris-Cotterill. But he said transaction-monitoring has its own set of problems, such as the difficulty of setting and formulating the rules.
Full interview at The Star Online and The Anti Money Laundering Network media site
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