Euro Cash Approach Finds Banks Unprepared, Says Misys Survey

NEWS

BRUSSELS -- Many banks have failed to grasp the urgency of preparing for the changeover to euro notes and coins on January 1, 2002, according to the UK-based banking software provider Misys.

Misys’ warning, based on a survey by the firm, came amid fears that the changeover would provide a major opportunity for money launderers and financial fraudsters.

As Operational Risk went to press, the European Central Bank was about to launch a public campaign to prepare consumers and businesses for the

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