European banks are investing more resources in staff and technology to spot financial crime following a recent string of money-laundering scandals. Incidents such as these have elevated scrutiny on the systems European banks are using to monitor transactions and assess risk. That could prompt more lenders to disclose their compliance investments in the future, said Robin van den Broek, an analyst with Mediobanca SpA. That’s in addition to at least €100 million ABN Amro had already budgeted for in 2018, according to the company. The additional compliance spending was financed in part by belt-tightening and job cuts elsewhere in the bank, the company said during a Feb. 13 call with analysts.

Source: Wall Street Journal March 04, 2019 15:56 UTC