The total annual cost for anti-money-laundering compliance for financial firms in Singapore, Indonesia, Malaysia and the Philippines is about US$6.09 billion. Photo: Antony Dickson
1MDB scandal fallout driving up regulatory costs for financial institutions in Asean, report finds
- Compliance costs, which have risen 9 per cent to 10 per cent in the past 24 months in Southeast Asia, are set to increase further, according to LexisNexis Risk Solutions report
- Annual costs still significantly below North America
The total annual cost for anti-money-laundering compliance for financial firms in Singapore, Indonesia, Malaysia and the Philippines is about US$6.09 billion. Photo: Antony Dickson
