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Banks trim compliance staff as penalties abate

Dwindling revenue necessitates the use of technology to control costs at departments in banks that were once protected from cuts

Royal Bank of Scotland Group is preparing to eliminate as many as 2,000 jobs checking new customers for suspicious traits as it digitises the process.


GLOBAL banks are paring back staff tasked with detecting wrongdoing for the first time since the financial crisis, ending a hiring boom that accompanied US$321 billion in fines, as technology replaces employees and penalties wane.

Royal Bank of Scotland Group Plc is...

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