Banks' AML procedures struggling under regulatory change

James Lightfoot, BDO

Banks are struggling to keep up with their anti-money-laundering (AML) procedures because of constant changes in regulation, say industry sources.

"Meeting the expectations of multiple regulators consistently is extremely challenging when each of them might have different regulatory priorities that shift from year to year, often at the whim of political expediency," says James Lightfoot, senior manager at accountancy firm BDO's forensic accounting unit in London. "Banks have to resource-plan

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