ADOPTION OF ANTI-MONEY LAUNDERING BY BANKS

The aim of this study was to explore the range of factors that influence anti-money laundering in banks. The major purpose was to propose a solution that banks can use. Based on a thorough literature review on anti-money laundering, this study developed a conceptual framework to explore the diverse factors affecting banks. Anti-Money Laundering was the endogenous construct. The research model is restricted to four exogenous constructs: regulations, cyber terrorism, technology solutions and staff trainings The research objectives were to determine the impact of the exogenous construct on anti-money laundering implementation in banks. Secondary data for this study was gathered from online sources, and the findings suggested that regulations had a major impact on AML in banks, whereas cyber terrorism had a negative impact on AML in banks. Staff training in banks is critical to make AML successful and influential in the banking industry. Finally, technology solutions were critical in the acceptance of AML in banks.