The challenges faced by banks as a result of AML laws and regulation include ________. I. A lack of trained/skilled personnel. II. Increased regulatory hurdles and governance. III. Complicated processes and technologies to detect illicit activities. IV. Managing correspondent banking relationships. Which of the following options correctly represents the challenges faced by banks as a result of AML laws and regulation?
1) II, III and IV only.
2) I, II, III and IV.
3) I, II and IV only.
4) I, II and III only.