In Brief
Time to get serious on AML policy in Europe
It is estimated that 2-5% of global GDP is laundered annually, with an overall recovery rate of illicit assets at just 1.1% in Europe, according to Europol. Tackling money laundering is a longstanding policy priority, but one pursued with limited success. In the meantime, crime proliferates, citizens see that rule of law does not work […]
Publication
Anti-Money Laundering in the EU
Between 2 and 5% of global GDP is thought to be laundered every year, whereas only 1.1% is recovered. Anti-money laundering encompasses combating tax avoidance, the financing of terrorism, human (and human organ) trafficking, state-sponsored and corporate bribery, and the proceeds from drug-trafficking and other illegal activities. Banks and other ‘obliged entities’ complete thousands of […]