Global financial crime prevention, detection and mitigation

Financial crime has been identified as a national security threat in many countries. An estimated USD$800 billion-$2 trillion is still laundered globally every year, and despite the billions spent every year to combat the threat, less than 1% of the proceeds of crime are recovered.

Over a series of whitepapers published in conjunction with the IIF, we have emphasized the vital need for continued collective efforts to drive reform across the global framework and have explored key themes such as the importance of information sharing and public private partnership, asset recovery, risk prioritisation and effectiveness.

In this third-in-series white paper, 'Global Financial Crime Prevention, Detection, and Mitigation', we continue to provide a constructive assessment of the state of the global anti-financial crime framework. This paper draws together insights on reforms at the international, regional and national levels developed both through desk research and engagement with key senior public and private sector stakeholders linked to this agenda.

We look at both the opportunities and challenges the paper provides updated reflections and recommendations on how the public and private sectors can continue to collectively improve effective outcomes in combatting illicit financial flows whilst addressing evolving capabilities, risks, and priorities.