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 (0)203 910 8061

Henry Worthington

Director, Economic Consulting

London

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 September 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 May 2010, Henry moved to the consultancy team. He has since lead 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.

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