Money Laundering Problems Fuel Support For LEI


The legal entity identifier (LEI) and hierarchical data can help to prevent anti-money laundering (AML) failures like those uncovered at HSBC and Standard Chartered, according to the CEO of Fenergo, a vendor of client onboarding systems, and experts agree investment in AML will increase as a result of the high-profile and expensive settlements the two banks have agreed to pay.

According to Marc Murphy, Fenergo's Dublin-based CEO, the importance of accurate reference data and ultimate beneficial o