Financial crime compliance costs exceed $206 billion

The growing complexity of compliance regulations and ever-evolving criminal methodologies are a major difficulty for financial institutions, according to LexisNexis Risk Solutions. Global financial crime compliance costs for financial institutions exceed $206 billion. This cost is comparable to more than 12% of global research and development (R&D) expenditure and equates to $3.33 per month for each working-age individual on earth. Financial crime professionals embrace AI While certain industries are still determining the ways in which … More →

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