I have been investigating money laundering since the 1980s—initially as a police officer, followed by a career as a money laundering reporting officer with a number of firms, and most recently as a consultant. So here we are in 2020, and as honest compliance professionals, we will acknowledge our collective AML endeavors are failing. We continue to seize less than 1 percent of funds laundered globally on an annual basis, and the level of regulatory fines for AML failures are not reducing.
