Global

Details

  • Service: Advisory, Risk Consulting, Forensic, Tax
  • Industry: Financial Services
  • Type: Survey report
  • Date: 1/29/2014

Cost of compliance continues to be underestimated 

The cost of Anti-Money Laundering (AML) compliance has increased since the 2011 survey and shows no signs of slowing down in the near future. Accurate cost forecasting is vital for members of senior management to make informed decisions, but it remains a key area of weakness.

Seventy-eight percent of survey respondents reported increases in their total investment in AML activity, with 74 percent also predicting further increases in AML investment over the next three years. The most significant increase in investment occurred in the AsPAC region where 39 percent of respondents reported over 50 percent increase in AML investment. The average rate of investment globally was 53 percent compared to a prediction of 40 percent in 2011.


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