It’s claimed that only around 1% of criminal funds are seized. Against this backdrop, compliance professionals in financial institutions (FIs) have an uphill task. New research from BAE Systems has been drilling down into some of their key challenges and motivations
As the recent FinCEN files news has shown, money laundering is one of the biggest criminal threats facing the world. It is also one of the hardest to quantify. Estimates suggest it’s a multi-trillion-pound problem, which despite its focus on the financial system, also has a major societal and human impact. So how effective has the industry been at responding?
Over the last few months, we have polled thousands of FI professionals and their customers to better understand global attitudes towards money laundering, and to compare current and possible future anti-money laundering (AML) strategies from across the industry.