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.
The Coalition Against Financial Crime
At Davos this year, the World Economic Forum, Thomson Reuters and Europol launched a coalition to improve awareness of the extent of financial crime, promote more effective information sharing and establish enhanced processes to share best practice.
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.