Banks spend 25% of compliance budget on overseas regulation

richard-shavedeloitte-1
Richard Shave, BDO

Regulations such as the US Foreign Account Tax Compliance Act (Fatca) mean banks are spending 25% of their compliance budget on other jurisdictions' laws and regulations, according to the latest research carried out by operational risk consultancy Protiviti.  Along with anti-money-laundering (AML) regulation, Fatca is the area where banks are having to shell out the most on expensive compliance programmes.

34% of respondents to the survey said they are spending more than 25% of their compliance

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: