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Private banks’ AML budgets unchanged despite Panama Papers, 1MDB shocks

Private banking COOs tell Asian Private Banker that their anti-money laundering (AML) and compliance tech spend has seen little-to-no change over the past six months, despite the industry witnessing a number of seismic events, including the Panama Papers data leak and the 1MDB scandal. According to polling conducted during Asian Private Banker’s recent COO Leaders Conversation in Singapore, 43% and 38% of COOs…

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