GITNUX MARKETDATA REPORT 2024

Must-Know Money Laundering Statistics [Latest Report]

With sources from: ft.com, nationalcrimeagency.gov.uk, fatf-gafi.org, loc.gov and many more

In this post, we will explore a collection of staggering statistics related to money laundering, shedding light on the prevalence and impact of illicit financial activities around the world. From the significant percentage of GDP attributed to illegal financial practices in the UK and US to the increasing cases of money laundering reported by various countries, these statistics paint a concerning picture of the global landscape of financial crime.

Statistic 1

"According to a PwC report, around 3.2% of the GDP in the UK and the US comes from illegal financial activities like money laundering."

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Statistic 2

"The Financial Action Task Force (FATF) identified over 120 countries as having money laundering vulnerabilities."

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Statistic 3

"In 2019, the European Union (EU) cut off four countries from its European Investment Bank due to money laundering risks."

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Statistic 4

"In a 2013 report, it was estimated that $24 billion in illicit funds enters Latin American financial systems annually."

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Statistic 5

"In 2014, global banks had a combined total of over 1 billion suspicious transactions in their databases."

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Statistic 6

"In 2019, Swiss banks reported 3,186 suspicious activity reports related to money laundering, a 25% increase from 2018."

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Statistic 7

"The United Kingdom’s National Crime Agency estimates that £90 billion ($117 billion) is laundered through the UK each year."

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Statistic 8

"In 2019, United States law enforcement agencies reported 722 successful money laundering convictions."

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Statistic 9

"In Canada, it is estimated that up to CAD $1 billion is laundered each year through real estate transactions."

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Statistic 10

"In 2018, Singapore’s Commercial Affairs Department (CAD) investigated 278 cases of money laundering, a 95% increase from 2016."

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Statistic 11

"The United States files an average of 1,500 money laundering cases per year."

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Statistic 12

"In 2019, United States law enforcement agencies seized more than $776 million in illicit proceeds from money laundering and other financial crimes."

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Interpretation

The statistics presented highlight the pervasive and damaging impact of money laundering on global economies. From the significant portion of GDP derived from illegal financial activities in the UK and the US to the widespread vulnerabilities identified by the FATF across over 120 countries, it is evident that money laundering poses serious risks. The substantial amounts of illicit funds entering various financial systems annually, coupled with the increasing number of suspicious transactions and activity reports, underline the urgent need for robust anti-money laundering measures. While law enforcement agencies have made some successful convictions and seizures, the sheer scale of money laundering worldwide demands continued vigilance and international cooperation to combat this illicit activity effectively.

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