IIF Calls for Tougher Laundering Controls

The video discusses the challenges faced by Nordic and European banks, focusing on anti-money laundering (AML) efforts and compliance. Despite high compliance costs, the success rate in intercepting illicit flows is low. The need for information sharing and advanced technologies like AI and machine learning is emphasized. The European banking sector struggles with low interest rates, lack of banking and capital market unions, and high operational costs. Cost reduction is necessary but difficult due to labor laws and regulatory hurdles.

What is the significance of information sharing among institutions and law enforcement?

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What are the implications of high employee counts in banks like Deutsche Bank and HSBC?

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