Anti Money Laundering Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

Anti Money Laundering Statistics 2023: Facts about Anti Money Laundering outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Anti Money Laundering, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Anti Money Laundering Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top Anti Money Laundering Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 36 Anti Money Laundering Statistics on this page 🙂

Anti Money Laundering “Latest” Statistics

  • According to 2019 anti-money laundering statistics, 60.5% of the banks’ fines were due to anti-money laundering regulations violations.[1]
  • From 2020 to 2025, the worldwide market for anti-money laundering solutions is anticipated to expand at a compound yearly growth rate of 15.6%.[1]
  • 44% of banks reported an increase of 5–10% in their AML and BSA budgets and are expected to increase their spending by 11-20% in 2017.[2]
  • 57% of FATF approved Virtual Asset Service Providers (VASPs) still have weak, porous anti-money laundering measures.[2]
  • Between 2021 and 2025, the anti money laundering software market is anticipated to grow at a CAGR of 14%.[3]

Anti Money Laundering “Money” Statistics

  • Law enforcement authorities might take action against 2,300 money mules in 2020, according to US money laundering statistics.[1]
  • According to data on money laundering, 95% of those system generated alarms are false positives, which end up costing businesses billions of dollars in lost investigative time each year.[1]
  • Money laundering activities cost the world 2% to 5% of its GDP.[1]
  • The average global money laundering risk score as reported by the annual Basel AML Index saw an increase in 2021 from 5.22 to 5.3 (out of a maximum score of 10).[4]
  • According to a 1996 report published by Chulalongkorn University in Bangkok estimated that a figure equal to 15% of the country’s GDP ($28.5 billion) was illegally laundered money.[2]
  • According to the Indian government, money laundering results in annual losses of over $18 billion.[2]
  • Banks have spent an estimated $321Billion in fines since 2008 for failing to comply with regulatory standards, facilitating money laundering, terrorist financing, and market manipulation.[2]
  • According to the UN and US State Department, the projected worldwide success rate of money laundering measures in 2009 was a meager 0.2%.[2]
  • According to the UNODC, the total amount spent on illegal financial operations like money laundering in 2009 represented 36% of the world GDP with $1.6 trillion laundered.[2]
  • The United States makes up at least $300 billion, meaning that the U.S. is responsible for 15%-38% of the money laundered annually.[3]
  • 90% of money laundering offenses get unreported despite the fact that 91.1% of criminals are in jail, according to Zippia.[3]

Anti Money Laundering “Laundering” Statistics

  • The United States Sentencing Commission reported that as many as 91.1% of those accused of money laundering were imprisoned, with an average length of 70 months sentencing in 2019.[1]
  • Money laundering is made more difficult by AML and sanctions compliance, however 41% of financial institutions are unable to keep up with rising cost expectations.[3]

Anti Money Laundering “Launder” Statistics

  • The sentences of the offenders who knew that the money came from illegal activities were increased by 19.7%, while the sentences of offenders who minimally participated in the money laundering activities were reduced by 11.5%.[1]
  • According to a study by Ronald F. Pol from La Trobe University in Melbourne, Australia, using global statistics on money laundering, this researcher has found that only 0.1% of illegally gained funds are recovered from criminals.[1]
  • The United Nations Office on Drugs and Crime (UNODC) estimates that between 2% and 5% of global GDP is laundered each year.[5]
  • The estimated amount of money laundered globally in one year is 2-5% of global GDP, or $800 billion – $2 trillion in current US dollars.[6]

Anti Money Laundering “Other” Statistics

  • The United Nations Office on Drugs and Crime (UNODC) estimates that in 2009, criminal proceeds amounted to 3.6% of global GDP, with 2.7% (or USD 1.6 trillion) being laundered.[7]
  • According to data from FinCen, almost 80% of CTR filings in 2017 were for sums under $30,000, and nearly 60% were for amounts under $20,000.[8]
  • Only 1.1% of all bitcoin transactions are known to be illegal, despite its connection to the Silk Road and the dark web.[4]
  • FinCrime penalties decreased by 78% from 2020 to 2021, with just $2.86bn given out compared to $13.15bn in 2020 – $7.2bn of which related to the Malaysian 1MDB scandal.[4]
  • According to a research by AML Intelligence, the total amount of global financial crime penalties issued in 2021 was $9.95 billion, down from 2020’s record breaking number of $22.86 billion.[4]
  • A staggering 69.6% of FinCrime penalties levied in 2021 were related to intelligence corruption, bribery, and fraud.[4]
  • 47% of Americans have fallen victim to credit card fraud after having their card information hacked at some time.[2]
  • In the U.S, there are 47% of all credit card fraud instances worldwide. Consumers are contacted by phone or email in 69% of frauds.[2]
  • 88% of customers believe that when a company invests in the customer experience, particularly in finance and security, their impression of that company is better.[2]
  • FIU has categorised 9,500 non-banking financial companies (out of an estimated 11,500 registered) as ‘high-risk financial institutions’, indicating non-compliance, as of 2018.[2]
  • 444,602 recorded incidents of identity theft, or 14.8% of consumer fraud complaints, were made in 2018.[2]
  • In 2019, about 0.17% of the cash received by cryptocurrency exchanges came straight from illegal sources.[2]
  • Despite being among the greatest amounts ever recorded, the average amount of illegal cash transmitted directly to exchanges fell by 47% globally in 2019.[2]
  • In the last year, expenditure on AML and sanctions compliance has reportedly grown, according to 67% of respondents of the research of Zippia.[3]

Also Read

How Useful is Anti Money Laundering

One of the key objectives of AML regulations is to disrupt criminal networks by making it more difficult for them to launder money through legitimate financial channels. By implementing stringent monitoring and reporting requirements, financial institutions can detect and report suspicious transactions that may be linked to criminal activities. This helps law enforcement agencies track down money launderers and bring them to justice, thereby disrupting their illicit operations and preventing further harm to society.

In addition to deterring criminals, AML regulations also help promote transparency and accountability in the financial sector. By requiring financial institutions to verify the identities of their customers and monitor their transactions for signs of money laundering, AML measures help create a level playing field where all actors are subject to the same rules and regulations. This not only strengthens the integrity of the financial system but also enhances trust and confidence in the overall economy.

Furthermore, AML regulations serve to protect legitimate businesses from unwittingly becoming involved in money laundering schemes. By implementing proper due diligence procedures and reporting requirements, financial institutions can screen their customers and ensure that they are not unwittingly facilitating criminal activities. This not only helps shield businesses from reputational damage but also reduces the risk of financial losses due to regulatory fines and legal penalties.

While critics may argue that AML regulations impose a heavy compliance burden on financial institutions and may sometimes result in unintended consequences, such as the exclusion of marginalized groups from the formal financial system, it is important to recognize the greater good that these measures achieve. The costs of AML compliance are outweighed by the benefits of a more secure and transparent financial system that protects against crime and safeguards the interests of all stakeholders.

In conclusion, the usefulness of Anti Money Laundering regulations cannot be overstated. By deterring criminals, promoting transparency, and protecting legitimate businesses, AML measures play a vital role in safeguarding the integrity of the financial system and curbing illicit activities. While there may be room for improvement in terms of efficiency and effectiveness, the overall impact of AML regulations is undeniably positive and essential for maintaining a stable and secure global economy.

Reference

  1. legaljobs – https://legaljobs.io/blog/money-laundering-statistics/
  2. tookitaki – https://www.tookitaki.com/compliance_hub/50-statistics-on-money-laundering/
  3. zippia – https://www.zippia.com/advice/money-laundering-statistics/
  4. napier – https://www.napier.ai/post/financial-crime-statistics-2022
  5. europa – https://www.europol.europa.eu/crime-areas-and-statistics/crime-areas/economic-crime/money-laundering
  6. unodc – https://www.unodc.org/unodc/en/money-laundering/overview.html
  7. fatf-gafi – https://www.fatf-gafi.org/faq/moneylaundering/
  8. fbi – https://www.fbi.gov/news/testimony/combating-money-laundering-and-other-forms-of-illicit-finance

Leave a Comment