One in three senior bank executives believes their institution has poor anti-money laundering controls at a time when the threat of vast regulatory fines and criminal prosecutions is increasing, according to a KPMG survey.

The annual survey, which quizzed 317 anti-money laundering and compliance professionals in banks and financial institutions across 48 countries, said only around one half thought their systems were able to provide a complete picture by monitoring transactions across businesses and jurisdictions.
One Third Of Bank Execs See Poor Money Laundering Controls
Global Anti-Money Laundering Survey – KPMG_AML_Survey_29.1.14