Banks are spending record levels of money on anti-money laundering and compliance systems, according to a global study by KPMG. The consulta...

Banks are spending record levels of money on anti-money laundering and compliance systems, according to a global study by KPMG. The consultancy said four out of five banks interviewed for the study said they have invested on average 61 per cent more in expanding AML. Most banks expect this trend will continue and that spending will rise by more than 40 per cent over the next three years.