Fraud, Corruption, Money Laundering and associated financial crimes
The extent and complexity of fraud, corruption, money laundering and associated financial crimes are at their highest levels globally. Legislation, regulations, and policies have been established and implemented around the world to combat white-collar crime, but the successes are limited.
According to the ACFE 2022 report to the nation, corporates lose on average 5% due to occupational fraud. Money laundering is estimated at 5% of the global GDP – in excess of US$ 2 trillion. In developing countries, the cost of bribery and corruption exceeds US$ 40 billion.
