Regulators' check-processing focus increases costs for banks

04/23/2012 | Reuters

Regulators are focused on weaknesses in electronic check-clearing systems that leave banks exposed to money laundering. As a result, some banks are spending significantly more on staff and technology to defend against such abuses. For example, HBSC's U.S. unit doubled its compliance expenses in 2011 from the prior year, and bank officials said the increase was primarily driven by anti-money-laundering costs.

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