Money laundering – the process of disguising illicitly obtained funds as legitimate – poses a significant
threat to global financial stability. To combat this menace, countries and financial institutions
worldwide have implemented robust anti-money laundering (AML) measures.
The South African Reserve Bank and local financial institutions have aligned their anti-money
laundering measures with international standards and legal frameworks, demonstrating a
commitment to financial integrity in the fight to address money laundering and the associated
terrorist financing.
While the fight against financial crime is ongoing, and staying informed and proactive is crucial, anti-
money laundering is a constantly evolving. In 2024, AML professionals must adapt to the changing
regulatory landscape, the growing use of new technologies, and evolving ways of fighting financial
crime. As the pace of change across the financial services industry continues to accelerate,
compliance teams have a regulatory and business obligation to have appropriate tools in place to
detect and prevent all forms of money laundering. In the coming decade many businesses will adopt
new technologies, such as artificial intelligence (AI), to enhance the efficiency and effectiveness of
their AML processes.
As regulations become stricter and financial crime becomes more sophisticated, AML teams must
manage risks more efficiently across and between channels, products, and systems. Financial crime
risks must be increasingly seen as a whole, not as separate parts. The implementation of the latter
remains a challenge. To this end, Marshall was established to assist organisations in their fight
against financial crime.
As a leading provider of full-service fighting financial crime and risk management solutions, Marshall,
part of the Ovations Group, brings its extensive experience and expertise to help businesses navigate
the complex challenges of financial crime. Marshall is dedicated to offering comprehensive and clear
strategies to combat financial crimes, leveraging skills and knowledge gained through numerous
client engagements.
Combatting financial crimes is a multifaceted challenge, exacerbated by the rapid growth of digital
enterprises and the complexity and siloed nature of many organisations. Marshall works closely with
clients to assess inherent risks, review control environments, and document residual risks, ultimately
building roadmaps to address these challenges through tailored projects and programs.
The challenges in detecting and preventing money laundering, fraud, and other financial crimes
continue to grow, particularly in the wake of the global pandemic. Organised crime networks are
exploiting the changing financial landscape, leading to increases in mule activity, identity theft, and
application fraud. In response, Marshall provides skilled resources to help organisations assess their
transaction monitoring applications, reviewing and tuning rules based on a risk-based approach.
Marshall also advises clients on the most appropriate technology solutions to deploy, based on their
risk appetite and budget, across the full spectrum of financial crime compliance offerings.
By providing insights into clients’ risk exposure and delivering effective solutions, Marshall ensures
ongoing protection and helps clients stay ahead of cybercriminals. As a result, businesses can better
understand their exposure to AML, counter-financing of terrorism (CFT), and sanctions risks.
For organisations seeking comprehensive financial crime and risk management solutions, Marshall
offers the expertise and resources needed to combat these risks. For more information, click here to
get in touch with Marshall and learn how their innovative strategies can support your organisation’s
fight against financial crimes.
