Financial Crime World

Title: Asia Pacific Financial Institutions Face $45 Billion Annual Compliance Cost for Financial Crime

Subtitle

  • A new study by LexisNexis Risk Solutions reveals the staggering cost of financial crime compliance for organizations in the Asia Pacific (APAC) region.
  • The True Cost of Financial Crime Compliance Study reports an annual price tag of $45 billion for the 3,000 surveyed organizations.

Key Findings

  • The latest study by LexisNexis Risk Solutions unveiled an estimated $45 billion annual cost for organizations in the APAC region for financial crime compliance.
  • A yearly spend of $15.4 billion on compliance technology.
  • $5.1 billion on personnel and third-party vendor costs.
  • A staggering $24.5 billion on operational costs.

Heading: Study Highlights

The study observed:

  1. Regulatory pressures.
  2. Complex risk landscape.
  3. Limited visibility and technology.

Heading: Cost Breakdown

  • Compliance Technology: $15.4 billion.
  • Personnel and third-party vendor costs: $5.1 billion.
  • Operational costs: $24.5 billion.

Heading: Impact on Individual Organizations

  • The average annual cost for financial crime compliance was estimated to be around $15 million for individual organizations surveyed.

Quote from the Author

“Against a backdrop of increasing regulatory requirements, growing complexity in financial crimes, and a dynamic threat landscape, these costs represent a considerable burden for financial institutions and organizations in the Asia Pacific region.”

— Mr. [Author’s Name], Senior Director at LexisNexis Risk Solutions

About LexisNexis Risk Solutions

LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help organizations assess and manage risk.

Study Methodology

  • LexisNexis Risk Solutions conducted a comprehensive survey of over 3,000 financial institutions and other financial services organizations across 11 key markets in the Asia Pacific region.

Additional Resources

  • [Website URL].
  • [Infographic URL].
  • [Whitepaper URL].

Press Contact

  • [Media Contact Name].
  • [Media Contact Email].
  • [Media Contact Phone Number].