Andrew Waxman

Illegal methods of moving money are just as likely to be low-tech and old school as high-tech and sophisticated. Surveillance methods and processes need to be able to counter both.

For all of the sophisticated ways criminals might try to launder money, banks still need to defend against low-tech methods that aren’t easy to track.

Institutions should define data "liabilities" and "assets" and represent them in a way that both touts data successes and is transparent about data gaps.

Using methods akin to fighting external hacking can also address risks of employees committing legal or ethical lapses.

A mature governance framework and risk culture that reaches all employees are among the attributes of a high-functioning "risk organization."

Progressives' push for a more drastic overhaul of the industry ignores post-crisis changes that have had an undeniably positive effect.