Volume of AML fines set to rise, expert warns
Smaller institutions face greater AML scrutiny, expert says
The number of fines for failures in anti-money laundering (AML) processes is set to increase in the next 12 months, one industry expert has warned. While we are unlikely to see more fines on the scale of the $1.92 billion handed out to HSBC in December 2012, the volume of fines to smaller institutions will increase, according to Henry Balani, a managing director at BankersAccuity.
Balani argues
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