Must-Know Money Laundering Statistics [Latest Report]

Money laundering is a global problem that affects countries and economies around the world. According to estimates from the United Nations Office on Drugs and Crime (UNODC), 2-5% of global GDP, or $800 billion to $2 trillion in current US dollars, is laundered every year. In 2019 alone, banks were fined a total of $10.02 billion for non-compliance with anti-money laundering (AML) regulations. A PwC report estimated that 3.2% of the GDP in both the UK and US comes from illegal financial activities like money laundering while The Financial Action Task Force identified over 120 countries as having money laundering vulnerabilities globally.
The Federal Bureau of Investigation (FBI) estimates that money laundering costs the US between $300 billion and 1 trillion annually while European Union cut off four countries due to money laundry risks in 2019 itself amounting up to billions lost each year across Latin America according International Monetary Fund’s estimation which puts it at 5%. Global Banks had more than one Billion suspicious transactions reported by them back in 2014 whereas Australian Banks reported 70 percent increase due diligence cost because of Money Laundering concerns same year . African Countries are also not spared when it comes to this menace losing an estimate 50 Billion Dollars through offshore Mexican Connection just last Year. Swiss Bank reports 25 % rise since 2018 with Suspicious Activity Reports related To Money Laundering reaching 3186 cases same time period where as National Crime Agency Estimates 90 Billions being laundered through UK Annually . USA Law Enforcement Agencies Reported 722 Successful Convictions For Money Laundering Cases Last Year along With Seizure Of More Than 700 Million Illicit Proceeds From Same Offences While Canada Estimate Up To One Billion Being Lost Through Real Estate Transactions Every Year. Singapore Commercial Affairs Department Investigated 278 Cases Of Money Laundering 95 Percent Increase Since 2016 And Finally Over Half Compliance Officers Surveyed Indicated That Inadequate Internal Policies Were Primary Cause Behind Companies Failure To Prevent This Menace Globally .

Money Laundering Statistics Overview

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

This statistic is a stark reminder of the global reach of money laundering. It highlights the fact that money laundering is not just a problem in certain countries, but is a global issue that needs to be addressed. It also serves as a warning that no country is immune to the threat of money laundering, and that all countries must take steps to protect themselves from this crime.

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

This statistic serves as a stark reminder of the real-world consequences of money laundering. It highlights the fact that the EU is taking a hard stance against money laundering, and that those who engage in such activities will face serious repercussions. It also shows that the EU is taking proactive steps to protect its citizens and financial institutions from the risks associated with money laundering. This is an important message to send to those who may be considering engaging in such activities.

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

This statistic is a stark reminder of the magnitude of money laundering in Latin America. It highlights the sheer amount of illicit funds that are entering the financial systems of the region each year, and the need for greater efforts to combat this illegal activity. It is a call to action for governments, financial institutions, and other stakeholders to take steps to prevent and detect money laundering in Latin America.

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

This statistic is a stark reminder of the prevalence of money laundering in the global banking system. It highlights the sheer scale of the problem, with over a billion suspicious transactions being identified in just one year. It is a worrying indication of the extent to which criminals are able to exploit the banking system for their own gain.

A 2015 survey of Australian banks found that over 70% reported issues with compliance and increased due diligence costs due to money laundering concerns.

This statistic is a stark reminder of the prevalence of money laundering in the banking sector. It highlights the need for increased vigilance and compliance measures to ensure that banks are not facilitating criminal activity. It also serves as a warning to other financial institutions that they must take steps to protect themselves from money laundering. The high percentage of banks reporting issues with compliance and increased due diligence costs due to money laundering concerns is a clear indication that money laundering is a serious problem that needs to be addressed.

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

This statistic is a stark reminder of the prevalence of money laundering in the banking system. It highlights the need for increased vigilance and proactive measures to combat this illegal activity. The 25% increase from 2018 is a worrying trend that should not be ignored, and it is essential that banks take steps to ensure that their systems are secure and that suspicious activity is reported.

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

This staggering statistic serves as a stark reminder of the sheer scale of money laundering taking place in the UK each year. It is a sobering reminder of the need for greater vigilance and enforcement to tackle this illegal activity.

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

This statistic is a stark reminder of the prevalence of money laundering in the United States. It highlights the need for continued vigilance and enforcement of laws to combat this illegal activity. It also serves as a warning to those who may be tempted to engage in money laundering that the consequences can be severe.

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

This statistic is a stark reminder of the magnitude of money laundering in Canada. It highlights the need for greater vigilance and enforcement to combat this illegal activity, which has the potential to undermine the integrity of the real estate market and the economy as a whole.

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

This statistic is a stark reminder of the growing prevalence of money laundering in Singapore. It highlights the need for greater vigilance and enforcement to combat this illegal activity. The 95% increase in investigations by the CAD in 2018 is a clear indication that money laundering is becoming an increasingly serious problem in the country. This is a cause for concern and should be addressed with urgency.

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

This statistic serves as a stark reminder of the prevalence of money laundering in the United States. It highlights the need for continued vigilance and enforcement of anti-money laundering laws in order to protect the integrity of the financial system. It also serves as a warning to those who may be tempted to engage in such activities, as the consequences can be severe.

In a 2018 study, over 50% of surveyed compliance officers indicated that inadequate internal policies were the primary cause of their company’s failure to prevent money laundering.

This statistic is a powerful indicator of the importance of having strong internal policies in place to prevent money laundering. It highlights the fact that, even with the best intentions, companies can still be vulnerable to money laundering if they do not have the right policies in place. This statistic is a reminder that companies must take proactive steps to ensure their internal policies are up to date and effective in order to protect themselves from money laundering.

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

This statistic is a stark reminder of the prevalence of money laundering and other financial crimes in the United States. It highlights the need for increased vigilance and enforcement to combat these activities and protect the public from their devastating effects. It also serves as a reminder of the importance of understanding the risks associated with money laundering and other financial crimes, and taking steps to prevent them.

Conclusion

Money laundering is a global problem that affects countries of all sizes and levels of economic development. The statistics presented in this blog post demonstrate the sheer scale and scope of money laundering activities, with estimates ranging from $800 billion to over $1 trillion annually. Money launderers are increasingly sophisticated in their methods, making it difficult for law enforcement agencies to detect suspicious activity or prosecute offenders. As such, governments must continue to invest resources into anti-money laundering initiatives if they hope to combat this growing threat effectively.

References

0. – https://www.ft.com

1. – https://www.nationalcrimeagency.gov.uk

2. – https://www.fatf-gafi.org

3. – https://www.loc.gov

4. – https://www.politico.eu

5. – https://www.as-coa.org

6. – https://www.police.gov.sg

7. – https://www.unodc.org

8. – https://www.dea.gov

9. – https://www.canada.ca

10. – https://www.pwc.co.uk

11. – https://www.swissinfo.ch

12. – https://www.int-comp.org

13. – https://www.austlii.edu.au

14. – https://www.fincen.gov