Wall Street spends $1.8 billion to spy on Traders after record fines

Wall Street spends more than ever on technology designed to keep an eye on traders after regulators extracted record fines from several banks worldwide for confronting lapses in monitoring communications.

The industry will spend about $1.8 billion on surveillance technology in 2022, up by 20% from 2021, according to Coalition Greenwich, an analytics firm tracking the financial-services industry. Two-thirds of that spending comes from banks and broker-dealers alone, the London-based consultancy said.