According to recent research done by Fortytwo Data, an AML technology firm, banks are squandering £2.7bn per annum chasing false leads due to outdated AML systems.

Fortytwo Data estimates that 55% of “false positives”, which accounts for up to 42% of the financial institution’s costs are eradicated by most modern systems.

Link: https://www.fx-mm.com/news/68672/banks-wasting-almost-3-billion-aml/