1st challenge: AML/CFT First of all, after all that happened last year, I cannot speak about banking supervision in general without mentioning AML/CFT. Last year, a significant number of banks came under public and political scrutiny, because they failed to fulfill their role as gate-keepers in the fight against financial crime.
Choosing a credit card, saving for retirement or for a child's education, or buying a home now requires more financial savvy than ever before. Financial literacy and consumer education – coupled with robust consumer protection – makes the financial marketplace effective and efficient, and better equips consumers to make tough yet smart financial decisions.