Firms believe AML focus is here to stay
NEW YORK - Financial services firms are most concerned about regulatory risk in relation to anti-money laundering (AML) issues but say enforcement actions and fines are warranted. Those are the main findings of a recent survey from Ernst & Young.
The online survey was conducted in real time at the Association of Certified Anti-Money Laundering Specialists' 6th Annual Conference and Exhibition, and the American Bankers Association Money Laundering Enforcement Conference. It received 125 responses, primarily from organisations based in the US.
"There is increasing pressure on compliance professionals regarding costs of AML, and there was an appetite for us to try to find out whether anti-money laundering is really a current concern that
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