It also illustrates how businesses utilizing targeted financial crime compliance technology tools are finding routes to capture enterprise efficiencies and overcome the negative cost and operations impacts of compliance. View the infographic on reducing your average cost of financial crime compliance. 

The study breaks down the cost of financial crime compliance by region: 

APAC: $6.1B
EMEA: $138.8B
LATAM: $4.5B – See these regional studies in Spanish: Argentina, Chile, Colombia, Mexico
North America – U.S. and Canada: $31.5B

It also highlights on a global level, the average increase in financial crime compliance costs over the last 24 months was 7% and that by the end of 2019 most global respondents expected an average increase in compliance costs of 12%.  

The report explores the global impacts of increased financial crime compliance expectations on productivity and customer acquisition. The report details how 53% of global respondents feel financial crime compliance processes have a negative impact on productivity. Global estimates are that an average of 63 hours of annual lost productivity per full time equivalent (FTE) compliance analyst can be attributed to job dissatisfaction. Similar numbers apply on the customer acquisition front, with 55% of global respondents stating financial crime compliance processes have a negative impact on customer acquisition. View the infographic on the impact to productivity and customer acquisition.    

Our overview also details the main global drivers behind financial crime compliance initiatives:

66%: Meeting the standards for regulatory compliance
65%: Minimizing reputational risk 
55%: Completing business de-risking
50%: Improving business results 

The report illustrates the biggest and most universal financial crime compliance challenges and includes a more nuanced look into the risk realities unique to each region. 

It also illustrates how businesses utilizing targeted financial crime compliance technology tools are finding routes to capture enterprise efficiencies and overcome the negative cost and operations impacts of compliance. View the infographic on reducing your average cost of financial crime compliance. 

The study breaks down the cost of financial crime compliance by region: 

APAC: $6.1B
EMEA: $138.8B
LATAM: $4.5B – See these regional studies in Spanish: Argentina, Chile, Colombia, Mexico
North America – U.S. and Canada: $31.5B

It also highlights on a global level, the average increase in financial crime compliance costs over the last 24 months was 7% and that by the end of 2019 most global respondents expected an average increase in compliance costs of 12%.  

The report explores the global impacts of increased financial crime compliance expectations on productivity and customer acquisition. The report details how 53% of global respondents feel financial crime compliance processes have a negative impact on productivity. Global estimates are that an average of 63 hours of annual lost productivity per full time equivalent (FTE) compliance analyst can be attributed to job dissatisfaction. Similar numbers apply on the customer acquisition front, with 55% of global respondents stating financial crime compliance processes have a negative impact on customer acquisition. View the infographic on the impact to productivity and customer acquisition.    

Our overview also details the main global drivers behind financial crime compliance initiatives:

66%: Meeting the standards for regulatory compliance
65%: Minimizing reputational risk 
55%: Completing business de-risking
50%: Improving business results 

The report illustrates the biggest and most universal financial crime compliance challenges and includes a more nuanced look into the risk realities unique to each region.