Banks hike pay for anti-money laundering staff

 
Tim Wallace
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BANKS are paying anti-money laundering contractors more than £1,000 per day, as a skills shortage pushes their value through the roof, recruiters Venn Group said today.

Banks are taking more steps to tackle financial crime as well as facing tougher regulatory demands.

But the supply of workers has not kept pace with the new demand, leaving banks facing a bottleneck for the best staff.

“We are going through a period where asset managers and investment banks are still struggling to not only interpret, but also implement the Financial Conduct Authority’s client asset rule,” said Venn’s Jodie Finn.

“Of particular interest are project managers and project leads who can expect to command in excess of £800 and £1,000 per day respectively.”