Recommendations on information security practices to balance compliance between anti-money laundering and privacy at the eCompliance Academy. Changes triggered by the new 6th Anti Money Laundering Directive and how its provisions impact GDPR compliance.

1. Prof. Hernan Huwyler,
MBA CPA
Dic 16th 2020
Privacy and Money Laundering
10 cyber security tips for compliance

3. Smart data security
controls for transferring
information during
customer due diligence
while meeting privacy

4. Anti-money investigations
need the strongest
confidentiality controls,
not only for GDPR
compliance

5. 1 Encrypt personal data
collected from external
sources transferred to
internal networks with
strong keys (slow,
bcrypt, bcryptjs)

7. 2 Consider zero-
knowledge proof and
other privacy-enhancing
technologies for
validating the due
diligence to outsourcing

9. 3 Scan systems and
repositories used by
anti-money
laundering staff to
detect personal
identifiable

11. 4 Certify accesses
to systems and
repositories
following the data
classification rules

13. 5 Periodically audit
the quality of the
information used for
investigations to
correct inaccurate or
obsolete data

14. 6 Implement a
segregated storage
strategy for
repositories of
anti-money
laundering
investigations

16. 7 Limit the
processing of
personal data with
a procedure to
focus
investigations on
higher risks

17. 8 Block access to
Google Translate
and other
translation services
which are heavily
used in

20. 9 Increase the security
requirements in
contractual clauses with
outsourcing providers
performing
investigations

21. 10 Ensure that
customer due
diligence
records are
retained for 5
years after the

22. Protect the privacy of the
anti-money laundering
staff by anonymizing
communications with
potential and current

23. @hewyler
/hernanwyler
mydailyexecutive.blogspot.com