Compliance costs are on the rise in Southeast Asia as financial institutions and regulators continue to grapple with the fallout of 1Malaysia Development Berhad (1MDB) scandal, according to a report by global analytics provider LexisNexis Risk Solutions.
Financial executives in Asean expect their costs to meet global anti-money-laundering (AML) and sanctions regulations to increase by as much as 9 per cent this year, according to the True Cost of AML Compliance report.
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