4 ms·
Yes, they could have cited some sources, but the number is spot on. It's an overestimate, even. https://www.unodc.org/documents/data-and-analysis/Studies/Illic
by perlclutcher 3y ago
Yes, they could have cited some sources, but the number is spot on. It's an overestimate, even.
https://www.unodc.org/documents/data-and-analysis/Studies/Illicit_financial_flows_2011_web.pdf https://www.unodc.org/documents/data-and-analysis/Studies/Il...
> Globally, it appears that much less than 1% (probably around 0.2%) of the proceeds of crime laundered via the financial system are seized and
frozen.
https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1725366 https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1...
> the confiscation rate might be 0.07 percent. In other words, despite ubiquitous money laundering controls, criminals retain up to 99.93 percent of criminal proceeds.
- hobobaggins 3y agoClearly we need more money laundering controls then. (/s)
- namdnay 3y agothat's like saying that nearly nobody robs banks so there's no point having so much security in banks. the real question is what would the figures be if there were no checks? and KYC isn't only for money laundering, it's also for tax fraud