KYC/AML Evolution: 25 Years of Financial Security

Explore the fascinating evolution of KYC (Know Your Customer) and AML (Anti-Money Laundering) from 2000 to today in our latest video, "KYC/AML Evolution: 25 Years of Financial Security." This comprehensive year-by-year breakdown reveals how financial institutions have adapted to combat rising financial crimes, from the impact of 9/11 and the introduction of the USA PATRIOT Act to the revolutionary role of technology and AI in compliance. Witness the transformation of KYC/AML practices and the growing importance of digital solutions, particularly in the age of cryptocurrency and remote banking. Join us on this insightful journey and discover how these measures keep our financial systems secure!

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OUTLINE:

00:00:00 From Passports to AI
00:00:53 The Calm Before the Compliance Storm
00:01:01 9/11 Changes Everything
00:01:09 KYC Gets Real
00:01:18 The FATF Steps Up
00:01:31 Tech Enters the Ring
00:01:41 The EU Says “No More Funny Business”
00:01:52 Time to Pay the Piper (Literally)
00:02:04 Online Banking Takes Off
00:02:16 The Financial Crisis Exposes the Cracks
00:02:30 Bitcoin Enters the Chat
00:02:41 E-KYC Makes Life Easier (Well, Almost)
00:02:56 Global Teamwork Makes the Dream Work
00:03:10 HSBC Learns the Hard Way
00:03:24 Machine Learning Joins the Fight
00:03:37 RegTech to the Rescue
00:03:49 KYC/AML Becomes a Billion-Dollar Industry
00:04:04 The Panama Papers Leak
00:04:20 Mobile Banking Creates New Challenges
00:04:35 Data Privacy Enters the Equation
00:04:45 The FATF Sets Its Sights on Crypto
00:04:55 The Pandemic Changes Everything (Again)
00:05:04 AI Levels Up
00:05:15 Sanctions Take Center Stage
00:05:29 The Rise of the Deepfakes
00:05:46 Crypto Gets Regulated (For Real This Time)
00:05:59 The Future of Financial Security
00:06:14 The Saga Continues