An investigation of enforcement of anti-money laundering measures on banking integrity: a case study of Guaranty Trust Bank
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Background of the Study
Anti-money laundering (AML) measures are critical for preserving the integrity of the banking sector by preventing illicit financial activities and ensuring compliance with international standards. Guaranty Trust Bank (GTBank) has implemented stringent AML enforcement practices that include advanced monitoring systems, transaction screening software, and comprehensive staff training programs (Eze, 2023). These measures are designed to detect suspicious activities, mitigate financial crime, and safeguard the bank’s reputation. With the increasing complexity of global financial transactions, robust AML practices are essential for maintaining public trust and regulatory compliance (Ibrahim, 2024). Digital transformation has enabled GTBank to enhance its AML frameworks through real-time data analytics and automated reporting, thereby reducing the risk of money laundering and related financial crimes (Chinwe, 2025).
However, enforcing AML measures uniformly across a diversified banking operation presents challenges. Inconsistencies in compliance, variations in regulatory interpretations, and the rapid evolution of money laundering tactics can undermine the effectiveness of these measures. This study will investigate the enforcement of AML measures at GTBank by analyzing compliance reports, audit findings, and system performance data. The goal is to assess how well the bank’s AML practices contribute to overall banking integrity and to propose strategies for further strengthening these measures to ensure long-term stability and trust.
Statement of the Problem
Despite the robust AML frameworks in place at GTBank, the bank continues to face challenges in fully enforcing these measures, which poses risks to banking integrity. Inconsistencies in policy implementation across different branches and gaps in employee training have led to instances where suspicious transactions were not promptly flagged (Olutola, 2023). Furthermore, the evolving nature of money laundering techniques and regulatory requirements makes it difficult to maintain up-to-date compliance systems. These enforcement gaps compromise the bank’s ability to prevent illicit activities and can result in regulatory sanctions and reputational damage. This study seeks to identify the operational and technical factors that hinder effective AML enforcement and to evaluate their impact on overall banking integrity, thereby providing recommendations to enhance AML practices and ensure a stronger compliance culture.
Objectives of the Study
– To assess the effectiveness of AML enforcement practices at GTBank.
– To identify challenges that compromise AML compliance.
– To recommend strategies for strengthening AML enforcement and banking integrity.
Research Questions
– How effective are current AML measures in ensuring banking integrity?
– What operational challenges hinder AML enforcement?
– What measures can improve the enforcement of AML policies?
Research Hypotheses
– H₁: Robust AML enforcement is positively correlated with enhanced banking integrity.
– H₂: Inconsistent policy application negatively impacts AML effectiveness.
– H₃: Continuous staff training and system upgrades improve AML compliance.
Scope and Limitations of the Study
This study focuses on GTBank’s AML practices across its operations. Data will be obtained from compliance records, internal audit reports, and staff surveys. Limitations include confidentiality restrictions and the rapidly evolving nature of money laundering tactics.
Definitions of Terms
• Anti-Money Laundering (AML) Measures: Policies and procedures designed to prevent money laundering.
• Banking Integrity: The overall ethical and operational soundness of banking practices.
• Compliance: Adherence to legal and regulatory standards.
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