From suspicion to action - Converting financial intelligence into greater operational impact

05 September 2017
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This Publication/Document is about Economic Crime

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Financial Intelligence Group

Money laundering is one of the key ‘engines of crime’ sustaining global criminal business worth billions of dollars. The task of combating it has become more difficult, due to the increasingly global and virtual nature of financial services and the emergence of technology-enabled factors such as crypto currencies and anonymisation tools that frustrate the identification of beneficial owners. Controlling much of this mega-illicit activity are global money laundering syndicates, who offer their services at scale to criminal networks, and are highly adept at exploiting gaps in the financial system. These are the challenging conditions within which anti-money laundering (AML) arrangements currently operate that set a very high bar for success in curtailing the international flows of illicit funds.