Despite increasing government sanctions and larger fines, only 48 percent of financial institutions have a strong “culture of compliance” and face a dire need to improve their anti-money laundering efforts. That’s what employees at those firms reported in a new survey conducted by NICE Actimize, a risk and compliance software business. Identifying gaps in AML strategy was highlighted as the top concern by 47 percent of respondents, many of whom said improving the quality of data and information gathering at their organizations was a top priority.
