Each of us has a role in combating money laundering and terrorist financing.
The estimated range of money laundering transactions in the world is from 2 to 5 percent of global gross domestic product which amounted over $ 1 trillion globally (Baker : 2005).
https://www.imf.org/external/pubs/ft/weo/2013/01/c2/fig2_1.pdf
Major Money Laundering Countries in 2013 identified by International Narcotics Control Strategy Report:
Afghanistan, Antigua and Barbuda, Argentina, Australia, Austria, Bahamas, Belize,
Bolivia, Brazil, British Virgin Islands, Burma, Cambodia, Canada, Cayman Islands, China,
Colombia, Costa Rica, Curacao, Cyprus, Dominican Republic, France, Germany, Greece,
Guatemala, Guernsey, Guinea-Bissau, Haiti, Hong Kong, India, Indonesia, Iran, Iraq, Isle
of Man, Israel, Italy, Japan, Jersey, Kenya, Latvia, Lebanon, Liechtenstein, Luxembourg,
Macau, Mexico, Netherlands, Nigeria, Pakistan, Panama, Paraguay, Philippines, Russia,
Singapore, Somalia, Spain, St. Maarten, Switzerland, Taiwan, Thailand, Turkey, Ukraine,
United Arab Emirates, United Kingdom, United States, Uruguay, Venezuela, and
Zimbabwe.
Same report stresses that money laundering continues to be a serious global threat. Jurisdictions flooded with illicit funds are vulnerable to the breakdown of the rule of law, the corruption of public officials, and destabilization of their economies. The development of new technologies and the possibility of linkages among illegal activities that generate considerable proceeds, transnational criminal organizations, and the funding of terrorist groups only exacerbate the challenges faced by the financial, law enforcement, supervisory, legal, and intelligence communities.
As you see we are all in this together…
Now AML designations are almost always for AML professionals and auditors. I do believe that more people on their jobs and everyday life are exposed to ML and TF risks, therefore more people should be educated in how to distinguish money laundering/ terrorist financing and what can be done to prevent it.
AML Course 