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High regulatory fines for anti-money laundering and sanctions violations have prodded U.S. financial institutions to reinvest in their transaction monitoring software over the past two years, a Boston-based research firm said Tuesday. Since 2009, financial institutions have purchased 1,200 new anti-money laundering (AML) software installations, with much of the growth driven by the $800 million in regulatory penalties during the period, according to a report released by the Aite Group. The report cited data provided by 36 financial institutions and 18 transaction monitoring software vendors. The growth in vendor business, which coincides with a rise in the AML work of...