Geopolitical risks add significantly to financial firms’ crime compliance costs

A study by U.S.-based analytics firm LexisNexis Risk Solutions Inc. found that 71% of financial firms in the Europe, Middle East and Africa region consider geopolitical risk as the leading contributor of crime compliance costs borne by them, Reinsurance News reported. Anti-money laundering regulations and evolving criminal threats were the other major contributors that affected the financial companies’ costs, significantly.