Does your financial institution have robust Customer On-boarding process in place, which filters out potential terrorists, drug dealers and other anti-social elements as well as individuals/entities having links with them?

Does your financial institution have Customer On-boarding process in place, which also filters out individuals/entities listed across multiple global and local watch-lists? Are your automated processes currently aligned with Prevention of Money Laundering guidelines of Monetary Authority of Singapore?

1) What are the best methods to auto-track evolving money laundering methods adopted by criminals, across the world?

2) How does a financial institution ensure that none of their existing and new customers have links with terrorist outfits, drug and arms dealers, appearing across hundreds of local and global watch-lists?