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Anti-money laundering compliance costs Asia banks US$1.5b a year: report

Survey respondents expect cost to rise amid rising scrutiny of financial institutions and transactions

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Some US$1.5 billion per year has been spent in Asia for anti-money laundering (AML) compliance at banks, a recent study from LexisNexis Risk Solutions showed.

Singapore

SOME US$1.5 billion per year has been spent in Asia for anti-money laundering (AML) compliance at banks, a recent study from LexisNexis Risk Solutions showed. And the cost is only expected to head higher amid rising scrutiny of financial institutions and their commitment to...

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