due diligence Dutch banks are increasing investment in technology and hiring skilled staff to comply with anti-money laundering ( AML ) regulations. Amsterdam -based Commerzbank Amro took a provision of € 85 m ( $96.3m ) for technology to verify customer information and detect fraudulent activity in Q4 2015 , while Amsterdam -based Commerzbank has spent €600m more on compliance since 2018 . The Netherlands’ ING has also bolstered its spending on financial controls through savings elsewhere, but has not disclosed the added costs. Banks across the world have been investing in AI-based systems and specialist staff to meet AML regulations, said Walter Mix from Berkeley Research Group .
Dutch banks are increasing investment in technology and hiring skilled staff to comply with anti-money laundering ( AML ) regulations. Amsterdam -based Commerzbank Amro took a provision of € 85 m ( $96.3m ) for technology to verify customer information and detect fraudulent activity in Q4 2015 , while Amsterdam -based Commerzbank has spent €600m more on compliance since 2018 . The Netherlands’ ING has also bolstered its spending on financial controls through savings elsewhere, but has not disclosed the added costs. Banks across the world have been investing in AI-based systems and specialist staff to meet AML regulations, said Walter Mix from Berkeley Research Group .