“Anti-Money Laundering Directive tops list of compliance headaches for 60% of financial sector executives” finds Delphix study
Delphix, the data virtualisation specialist, has revealed that the Anti-Money Laundering Directive, the EU-US Privacy Shield and the Market Abuse Directive and Regulation are the three biggest regulatory pressures across the EMEA at the present time.
The findings of the company’s detailed study into the regulations most difficult to comply with from a data and reporting perspective warn that organisations are “worryingly behind” in terms of developing the data architectures needed to meet evolving reporting demands and must overhaul their data delivery practices.
Over half (59%) of respondents cited ‘delivery’ as a top challenge in their day-to-day operations, with more than a third (38%) claiming high levels of rework hinders their capacity to deliver on data and reporting objectives. One-in-five (20%) claim they’re forced to use information that’s not fully anonymised as they take increasing risks with sensitive data.