Database Security Compliance with Antimoney Laundering Status

This paper examines the vital confluence between data security and money laundering- fighting statutes compliance. With the data side of finance systems getting increasingly complicated while the banks are storing client information and transaction records, having those systems secure and complying with AML laws or regulations becomes critical. This research paper assesses current AML statutes, the measures to be implemented to ensure a level of security compliance, and the technical and organizational measures that should be employed to ensure that the standards are adhered to. Based on data from reviewing statutory constitutions, industry conventions, and academic materials, the report offers an overview of the field concerning applying best practices and impediments in implementing robust database security policies that comply with AML regulations.