Anti-money Laundering Costs Balloon

The Globe and Mail, Tavia Grant, 9 July 2007The cost of fighting money laundering and terrorism financing has mushroomed around the world, including Canada.In North America, banks' spending on anti-money laundering systems jumped 70 per cent over the past three years, according to a global study by KPMG Monday � far more than the 43-per-cent increase banks had anticipated back in 2004.Now, as