AML POLICY
Why the anti-financial crime community is
strongly positioned for a centralized cross-
institutional artificial intelligence platform
n the present environment, roughly
one in three organizations
experience economic crime, only
50 percent of money laundering or terrorist
financing occurrences are identified by
system alerts and one in five banks are
recipients of regulatory enforcement
actions. 1 The United Nations Office on
Drugs and Crime found that “the estimated
amount of money laundered globally in one
year is 2 to 5 [percent] of global GDP, or
$800 billion to $2 trillion in current U.S.
dollars.” 2 Likewise, before the end of 2017,
compliance spending on anti-money
laundering initiatives is expected to exceed
$8 billion, a compounded annual growth
rate of almost 9 percent. 3
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1 “Adjusting the Lens on Economic Crime: Preparation
Brings Opportunity Back into Focus,” PWC, 2016,
http://www.pwc.com/gx/en/economic-crime-survey/
pdf/GlobalEconomicCrimeSurvey2016.pdf
2 “Money Laundering and Globalization,” UNODC,
https://www.unodc.org/unodc/en/money-laundering/
globalization.html
3 “Adjusting the Lens on Economic Crime: Preparation
Brings Opportunity Back into Focus,” PWC, 2016,
http://www.pwc.com/gx/en/economic-crime-survey/
pdf/GlobalEconomicCrimeSurvey2016.pdf
ACAMS TODAY | SEPTEMBER–NOVEMBER 2017 | ACAMS.ORG | ACAMSTODAY.ORG