One data point I can provide is: $900,000,000.00 — which is the cost for a bank for NOT doing this.
https://www.reuters.com/article/us-ing-groep-settlement-mone...
https://www.reuters.com/article/us-ing-groep-settlement-mone...
(It's not at all clear that this fine is due to a lack of regexes.)
If the argument is "banks have to do this because of non-sensical and unjust regulations" - fine, that's one for the lawyers and maybe risk managers.
I understood your position as defending the regulations itself.