2019 Asia Pacific True Cost of AML Compliance 

The projected cost of Anti-Money Laundering (AML) compliance across Indonesia, Malaysia, the Philippines and Singapore combined is estimated at US$6.09 billion annually according to the True Cost of AML Compliance: Asia Pacific Edition Report. AML costs have reportedly risen by 9% - 10% during the past two years and are expected to continue at a similar rate during the next year.  The report represents the views of decision makers within the financial compliance function who oversee Know Your Customer (KYC) remediation, sanctions monitoring and/or AML transaction monitoring at banks, investment firms, asset management firms and money services bureaus across Indonesia, Malaysia, Singapore and the Philippines.