Pandemic Drove Up Costs of Complying with Anti-Fraud Rules: Report

American Banker, June 9, 2021–Hannah Lang (subscription)
Financial institutions spent nearly $214 billion last year — an 18% jump from 2019 — to meet regulatory requirements for fighting financial crimes, a new study says. The spending included more staffing to manage risks posed by customer growth.
https://www.americanbanker.com/news/pandemic-drove-up-costs-of-complying-with-anti-fraud-rules-report