PUBLIC SPENDING ON AML GROWS, BUT IS IT SPENT WISELY?
April 12th, 2023
The fact that AML/CFT is expensive is widely appreciated by governments and international organisations, but they still support policies and programmes that cost a considerable proportion of the USD274.1 billion that LexisNexis Risk Solutions says is lavished on financial crime compliance (1). Its 2022 report noted that ML and TF are two of the three most common financial crimes, also including corruption. A 2022 paper in the Journal of Interational Development estimated that global AML compliance costs are USD180 billion (2).
But what do governments themselves ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.