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One data point I can provide is: $900,000,000.00 — which is the cost for a bank for NOT doing this. https://www.reuters.com/article/us-ing-groep-settlement-mon
by leokennis 4y ago
One data point I can provide is: $900,000,000.00 — which is the cost for a bank for NOT doing this.
https://www.reuters.com/article/us-ing-groep-settlement-money-laundering-idUSKCN1LK0PE https://www.reuters.com/article/us-ing-groep-settlement-mone...
- from 4y agoIn the case of BNP Paribas, 10 times that.
- miracle2k 4y ago> One data point I can provide is: $900,000,000.00 — which is the cost for a bank for NOT doing this. (It's not at all clear that this fine is due to a lack of regexes.) If the argument is "banks have to do this because of non-sensical and unjust regulations" - fine, that's one for the lawyers and maybe risk managers. I understood your position as defending the regulations itself.