Explanatory research finds that anti-money laundering training significantly enhances profitability in commercial banks, suggesting proactive measures are essential.
Key Points
Anti-money laundering training has a positive effect on banks' profitability, enhancing their effectiveness in preventing fraud.
Significant statistical results showed an effect size of β = 0.222 with a p-value of 0.005, indicating strong evidence for the training's impact.
The research utilized an explanatory design, analyzing data over a period of eight years across 35 regulated banks in Kenya.
Institutionalizing structured training programs could be vital for banks to improve their operational effectiveness against money laundering risks.