The Central Bank of Nigeria (CBN) has introduced a draft titled ‘Baseline Standards for Automated Anti-Money Laundering’ (AML) solutions, aimed at promoting the adoption of emerging technologies by financial institutions.
These technologies are designed to enhance the detection and real-time reporting of suspicious transactions.
This information is detailed in a letter from the Director of Banking Supervision, Dr. Olubukola Akinwunmi, addressed to all financial institutions, inviting their feedback prior to the release of the final version.