Private banking and wealth management
According to a 2020 PWC assessment, the total global assets under the management of private banks and wealth managers is expected to increase from the 2020 value of $110 trillion to $145 trillion in 2025. Regulatory scrutiny is therefore only likely to increase, including higher penalties and fines for non-compliance, deferred prosecution agreements, and targeted management accountability for anti-money laundering (AML) and sanctions violations.
