Banks invested in digital transformation, but spending 70 per cent of AML budgets on labour says LexisNexis study

Banks in the UK are spending £30 billion (US$34 billion) annually complying with anti-money laundering (AML) regulation, with three-quarters of budgets spent on people and only a quarter spent on technology according to a survey commissioned and published by LexisNexis Risk Solutions The study, Tech Blockers 2022,…