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LexisNexis Risk Solutions has released its 2022 True Cost of Financial Crime Compliance Study, revealing that compliance costs in the U.S. and Canada have risen by 13.6% to approximately $56.7 billion. The study indicates that 73% of U.S. and 86% of Canadian financial institutions reported increased costs from April 2021 to May 2022. Large U.S. firms saw costs spike by 121% since the pandemic, driven by regulatory impacts and financial crime exposure. The report highlights significant challenges in compliance operations, particularly due to increased geopolitical risks and the Anti-Money Laundering Act of 2020.

Cirium has launched Cirium Sky, a comprehensive aviation data warehouse that provides accurate CO₂ emissions data, now recognized by American Airlines and Virgin Atlantic. This platform consolidates various datasets to enhance operational efficiency and expedite decision-making for businesses in the air travel industry. It aims to support airlines and other stakeholders in reporting their ESG footprint more effectively, while addressing inconsistencies in flight emissions reporting. Cirium Sky is underpinned by partnerships with over 900 airlines and various data sources.

LexisNexis Risk Solutions released the inaugural True Cost of Fraud Study for Supplemental Nutritional Assistance Program (SNAP) agencies, revealing significant financial impacts from fraud. For every $1 lost, agencies incur $3.72 in additional costs. The rise in mobile transactions, now accounting for 15% of applications, correlates with increased fraud costs, reaching $4.40 per dollar lost for agencies with high mobile submission rates. The report highlights identity fraud, errors, and bot attacks as critical challenges faced by SNAP agencies.

ICIS has launched Europe's first hydrogen price assessments to reflect the market value of renewable electricity, supporting the development of a clean hydrogen market. This initiative aligns with the European Commission's REPowerEU plan, which aims to quadruple hydrogen supply targets by 2030. The assessments, compliant with EU standards, provide crucial pricing instruments to enable investments of up to €500 billion. They reflect the business conditions for renewable hydrogen projects and offer transparency essential for strategic investment planning.

LexisNexis Risk Solutions released its 2022 Financial Transparency and Inclusion Report, indicating that 69% of financial institutions recognize transparency issues as barriers to underserved customers. The survey highlights that the unbanked and underbanked face significant challenges in onboarding due to inadequate data. Key findings reveal a strong interest in improving financial inclusion, with 64% citing identity verification as a challenge. Additionally, nearly 80% show interest in a global Customer Due Diligence utility. The pandemic has accelerated the adoption of AI in compliance and identity verification processes.

Cirium's World Airline Passenger Rankings for 2021 reveal that American Airlines topped the list, followed by Delta, United, and Southwest. North American airlines saw a 75% recovery from 2020, but traffic was still down 40% from 2019 levels. Overall, global traffic was down 57% compared to pre-pandemic figures, with 2.3 billion passengers. Ryanair remains Europe's largest airline at fifth place. Notably, airlines in Asia Pacific struggled, with Cathay Pacific dropping out of the top 100. The report emphasizes the shift in market share from legacy to low-cost carriers.

Cirium, a leading aviation analytics firm, has announced that Ben Baldanza, former CEO of Spirit Airlines, and Willy Boulter, former CCO of IndiGo, have joined its On-Time Performance Advisory Board. This Board aims to enhance the OTP Program by analyzing airline and airport operational efficiencies globally. With nearly 80 years of combined aviation experience, their insights are expected to improve performance metrics as the industry recovers from the pandemic. Cirium positions itself as a key player in operational analytics, which is vital for future growth.