Widespread money laundering a concern on Wall Street

Wall Street executives are freaking out under the strain of widespread money fraud.

The New York Post reports that more compliance cops, more technology and expanded budgets are needed, they warn, to help stem the flood of dirty money laundered internationally, according to a new survey.

In a field paying anywhere from $75,000 to $250,000 in annual salary for qualified compliance pros, staffing is one of the biggest challenges for firms today.

More than 75% of execs cite it as a concern as the job market gets competitive amid a severe anti-money laundering talent shortage, according to the survey of US financial institutions released by Next­Angles, Compliance execs are increasingly anxious they don’t have enough staff and backup, the survey reveals.

The money is laundered by a variety of dodgy players, from drug cartels to terrorist cells.

To access the complete New York Post article hit the link below:

Money laundering has Wall Street freaking out

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