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PH true cost of financial crime compliance rises by 44% in 2020

The cost of fraud across the Asia Pacific (APAC) region last year rose to 3.51 and 3.87 times the amount of actual lost transaction values due to the rise of fraudulent transactions. These figures, which came from the LexisNexis® True Cost of Fraud Study from LexisNexis® Risk Solutions for the Philippines in 2020, show a significant increase from 2019’s regional average of 3.40.


LexisNexis Risk Solutions is a global leader in combining advanced analytics and global identity intelligence technology with innovative financial crime technologies like machine learning, artificial intelligence (AI), and robotic process automation (RPA). These solutions enable precise risk perspectives during the customer lifecycle, allowing customers to make timely and correct decisions and address financial crime risk.



Source:


1.Manila Bulletin


2. Adobotech


3. Techpatrol


4. The Philippine Business & News

5. Teknogadyet


6. Malaya Business Insight



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