Financial Crime Financial Crime

Banks lack 'regulatory incentives' to adopt anti-money laundering tech, FATF warns

By Annie Robertson and Matthew Newman
  • 02 Jul 2021 10:33
  • 02 Jul 2021 10:33
Banks and major financial institutions lack the “regulatory incentives” to adopt and renew anti-money laundering technology, the Financial Action Task Force warned today.

Financial institutions often rely on legacy systems to identify and analyze suspicious trends in the market, which can lead to ineffective findings and delayed intervention.

"The complexities and costs involved in

To view the latest version of this document and thousands of others like it, sign-in to MLex or register for a free trial.

Discover MLex

Stay on top of global regulatory developments


Latest News