Our system to fight money laundering is fundamentally broken.
Money Laundering is one of the most pressing burdens to global society and cost us 2.7% of global GDP annually. Financial institutions spend over USD 200bn annually to comply with AML regulations. The outcome is a success rate of less than 1%.
Financial institutions are not offered any appropriate solutions to ease the compliance burden and the risk of being fined.
$1.5trn
are laundered globally per year
$21.6m
avg. spend for AML per Bank in one year
<1%
of laundered money is seized
95%
of time spend on False positives