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Nearly 24 Percent of Investment Management Companies Don’t Have Transaction Monitoring: Survey
printAlmost a quarter of investment management companies do not have means to monitor the transactions they handle for suspicious activity, including fraud and money laundering, according to a survey. Of a July 23 survey of more than 500 banking and security executives, 23.8 percent had not implemented transaction monitoring systems and 32.4 percent were unaware whether their companies had, according to New York-based consultancy Deloitte Financial Advisory Services LLP. Additionally, one in ten respondents said that their companies had not addressed money laundering at all, according to Deloitte. Under U.S. regulations, investment management companies are not required to implement anti-money...
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