Swift: Compliance Costs Doubling Every Four Years
The whitepaper, Meeting the Operational Challenge of Sanctions Compliance, reports that banks are now facing more pressure to "re-prove" their abilities to cope with increased volumes and the data sets that are growing rapidly.
As such, banks must invest in robust technology and ensure that they have a complete understanding of the myriad of regulatory mandates, according to Nicolas Stuckens, manager of anti-money laundering (AML) sanctions initiatives at Swift.
"All the banks have invested in
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