Op risks seen as the main hazards facing private banking


LONDON -- The main risks facing the world’s private banking industry arise from reputational, operational and performance hazards, while banks operating offshore also face criticism over tax and anti-money laundering policies.

This is the view of credit rating agency Moody’s Investors Service, which in March published a report on an industry that faces the challenge of changing client profiles and the need for technology investment.

Overall, says Moody’s, the prospects for growth in the industry

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