published 2022-08-30
The total value of money laundering is estimated at 2 to 5% of global GDP. That works out to about $800 billion to $2 trillion a year. Banks are suffering the burden of increasing regulatory pressure. Unsuspecting consumers bear the brunt of money laundering in the form of higher rates and poor service. The way out of this cycle of more regulation and higher costs is through regulatory technology.
In the report “Top trends in Regtech: Shaping Financial Services with Regulatory Technology“ Hyarchis identifies five key regulatory technology trends within the financial service domain and explains how it turns compliance from a restrictor to a business enabler.
