AML tech spending set to soar


Tokyo -- Banks, broker-dealers and insurance carriers in the US will spend a total of $632.2 million on AML software solutions, related hardware and services between 2003 and 2005, according to a new report by Celent. But this could eventually dwarf the global market for these products, the US technology research firm’s report notes, given that dozens of countries worldwide have either recently enacted, or are developing AML legislation.

"The market is going to grow, and not just in the US, but

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