Asset Managers · Laws and Regulations · Wealth Managers

AML efforts stymied by lack of qualified staff, PwC finds

Euro notes in a suitcase. Photo: iStock.
Despite constant new regulations and sophisticated technology, one of the main reasons why money-launderers and terrorism financiers continue to succeed is a simple lack of qualified personnel able to make effective use of such tools, according to a recent survey carried out in the Europe, Middle East and Africa (EMEA) region by global accounting firm PwC.
To read this article, you need a subscription to Investment Officer. If you don't have a subscription yet, click on 'Subscribe' to see the various subscription options.