James Wester is research director, worldwide blockchain strategies, at IDC. Wester examines the technologies, architectures and concepts behind blockchain and how they are being applied to financial services, manufacturing, energy, government and healthcare. Wester: “AML, risk and compliance still havent been done particularly well, since these banks are relatively new. So the main challenge for these banks is to learn a whole new way of watching for suspicious transactions and then tying it back to the right regulator” The current system of know your customer or KYC is not as rigorous in digital banks,” Wester says.”]
Source: https://www.cuinfosecurity.com/crypto-banks-security-road-ahead-a-16343