Recent Release | 14 Jul 2021

Cutting the costs of AML compliance

Thought Leadership Team

Oxford Economics

How technology and data can help reduce the costs of compliance and improve the effectiveness of controls.

Oxford Economics and LexisNexis Risk Solutions surveyed 301 leaders within financial compliance, as well as conducting in-depth interviews, to try and get a clear picture on the true cost of compliance for UK firms.

Our research used a cost model to estimate total annual compliance costs for the sector of £28.7 Bn and rising, with the complexity of complying with increasing regulation the most important cost driver, above the increase in criminal activity. The research was written up by LexisNexis Risk Solutions in a report in June 2021.

About the team

Our Thought Leadership team produces original, evidence-based research made accessible to decision-makers and opinion leaders. Principals for this project included:

Henry Worthington

Director, Economic Consulting

+44 20 3910 8061

Henry Worthington

Director, Economic Consulting

London, United Kingdom

Henry Worthington is a Director for Economic Consulting in Oxford Economics’ consultancy division managing a team of economists in London across a diverse range of projects featuring economic impact modelling, macroeconomic modelling and forecasting and scenario analysis.

He joined Oxford Economics in 2008, originally as part of the global macroeconomics team. As part of the macro team Henry assumed forecasting responsibility for a number of countries including Russia, Poland and Hungary. In 2010, Henry moved to the consultancy team. He has since led and managed a wide range of projects, notably an evaluation of the economic benefits of unconventional oil and gas extraction in Tunisia, research into the economic impact of hotel investments on behalf of the IFC, building a macroeconomic model for forecasting and scenario analysis in Abu Dhabi and developing a macroeconomic model to assess the implications of the introduction of VAT in the Bahamas.

Henry was educated at the University of Cambridge, where he gained a first-class degree in Economics, becoming the William Stone Scholar of Economics, and an MPhil in Modern Society and Global Transformations.

John Reiners

Managing Editor, EMEA, Thought Leadership

John Reiners

Managing Editor, EMEA, Thought Leadership

London, United Kingdom

John oversees Thought Leadership projects with EMEA-based clients. He works across business sectors and disciplines, but specialises in issues relating to strategy and business operations, such as sustainability, digital transformation, employment and skills, finance, and performance management. He has directed the Thought Leadership contribution on some of Oxford Economics’ largest and most complex research programmes, for global consultancies and corporates, including Accenture, the Adecco Group, Cognizant, EY, Fujitsu and YouTube. Often this is in collaboration with his economist colleagues to blend qualitative and quantitative analysis, and to explore the impact of corporate actions at a business, industry and economy level.

John joined Oxford Economics in 2014, after 25 years as a Financial Controller, financial management consultant and, most recently, a thought leadership expert for IBM’s Institute for Business Value, focused on global public sector issues. John then worked on the independent Digital Government Review as input to the UK General Election. He is an Economics graduate from Sussex University and a Chartered Management Accountant (ACMA).

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