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Firms Need to Use Tech to Mitigate Growing Money Laundering Threat

November 1, 2022


The State of Global Anti Money Laundering Compliance Report surveyed 636 anti-money laundering (AML) compliance experts, representing 77 companies around the world, most of them from the financial services industry, and overall 74 per cent of respondents cited money mule schemes – both unwitting (44 per cent) and witting (30 per cent) – as the most common money laundering threats.

Furthermore, 56 per cent said that multi-customer, cross-wallet payment activity – a favoured tactic of money launderers as it enables them to move funds between different accounts to avoid detection – is the second most common money laundering typology.

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