ACCORDING to the PwC Global Economic Crime Survey 2016, global money laundering transactions are estimated at between 2% and 5% of global GDP, or between US$1tril and US$2tril annually. Yet, according to the United Nations Office on Drugs and Crime (UNODC), less than one percent of global illicit financial flows are currently seized by the authorities.
In Malaysia, the Commercial Crime Department of the Royal Malaysia Police has reported that “Organised crime and financial crime together cost Malaysia between RM15bil and RM25bil per annum.”