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INSIGHT: RBC chief says bank using AI to cut down ML risks; HSBC Canada acquisition complicates task

RISKS: RBC President and Chief Executive Officer Dave McKay said the lender is continuing to invest in new AML strategies and products. “It takes all banks to protect the overall payment system,” he said. Our photo shows the Royal Bank of Canada CEO pose for a portrait at the Thomson Reuters office in Toronto, Ontario, Canada.

By PAUL O’DONOGHUE for AML Intelligence ROYAL Bank of Canada (RBC) is investing in technology and artificial intelligence (AI) to combat money laundering, its chief executive has said. Shares in the lender jumped on Thursday after it reported better than expected earnings of CAD$4 billion after completing the acquisition of  HSBC Bank Canada. In a…

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