Preventing money laundering is one of the most important challenges facing the banking sector to preserve the integrity of the financial system. This paper investigates the practical aspects of the organization of internal controls in banks aimed at combating money laundering. Emphasis is placed on key elements, including developing policies and procedures, strengthening governance structures, risk assessment, transaction monitoring and employee training. Key challenges were identified. The paper concludes that effective internal control, based on a proactive approach and continuous adaptation, not only strengthens banks’ resistance to money laundering threats but also contributes to global financial stability.
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Milojičić et al. (2024) studied this question.
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