This week’s OSIN report highlights the top Money Laundering statistics in 2023. It has been found that money laundering is a significant problem both in the United States and globally. The US alone accounts for 15%-38% of the global money laundering figure. Worldwide, between USD 800 billion and USD 2 trillion is estimated to be laundered annually. In 2020, global banks were hit with USD 10.4 billion in fines for money-laundering violations, and 41% of the financial institutions are inadequately equipped for AML and sanction compliance. Despite a 91.1% imprisonment rate for offenders, 90% of money laundering crimes go undetected. Money laundering carries a minimum jail sentence of one year and a minimum fine of USD 1,000. If money laundering is classified as a felony, the minimum fine is a significant USD 250,000.
Money laundering appears to have been on the rise since the pandemic began. The statistics related to money laundering suggest that this crime is not going to diminish anytime soon.