The risks to banks and their executives from non-compliance with anti-money-laundering regulations are increasing dramatically. The United Nations estimates that as much as $2 trillion (5 percent) of global GDP is laundered. Since 2018, the exits of CEOs from Westpac, Swedbank and Danske Bank underscore the consequences. To effectively manage money-laundering risks, bank executives need to have sound answers from their compliance, security and IT professionals to five core questions.
Interest rates have been depressed for so long in Europe, it’s hard to remember when they actually soared into the teens. In fact, today, the natural interest rate is flirting with negative values. Due to a number of factors, such as an ageing population and sluggish trend growth, the natural interest rate is not likely to rise anytime soon. The remedy may not lie with central banks but with governments.