Fighting financial crime
The true cost of financial crime
At Thomson Reuters, we are committed to uncovering the true scale of the financial crime challenge, to raise awareness, and create the data and coalitions that will increase our ability to fight financial crime together. Join the conversation #FightFinancialCrime.
Forced prostitution, child slavery, drug trafficking, and numerous environmental crimes are all made possible by our inability to disrupt and dismantle the crime networks that attack weaknesses in the international financial system every year.
The estimated aggregated loss of turnover from financial crime.
47 percent of our survey respondents have been a victim of financial crime in the past 12 months.
3.1 percent of annual turnover is spent combatting financial crime, representing an aggregate of $1.28 trillion for organizations surveyed.
The true cost of financial crime extends far beyond pure economics. Critical social and humanitarian consequences impact the lives of millions of individuals across the globe on a daily basis. This has serious economic and social costs in terms of the lost revenues to national exchequers that could be invested in social development, and in terms of the impact on individual lives.