Mena firms facing increased compliance scrutiny | GulfNews.com:
"Businesses based in the Middle East and North Africa (Mena) region are expected to face a significant rise in compliance risk scrutiny from global financial institutions and regulators, regional business leaders and compliance specialists have said.
According to professionals attending an EY Mena Sanctions and Financial Crime Symposium last week, nearly seven out of ten (68 per cent) of regional business leaders and senior compliance specialists said they expect to spend significantly more on sanctions and financial crime compliance over the next 12 to 18 months.
The findings come as financial crime challenges and risks become more significant across the Middle East and North Africa (Mena) region, with about 74 per cent predicting that the regional businesses are set for a significant increase in compliance risk scrutiny from global banks and regulators."
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