Transaction laundering should be a top priority for regulators in 2018


September 27 2017

The dramatic rise of e-commerce has changed not only consumer habits but also criminal habits. Cyber attacks, ransomware, cyber terrorism, advanced persistent threats and more — the way today’s criminal operates may well be entirely digital.

However, one thing has not changed in the criminal realm. Just like old-world mafiosos, digital criminals need to turn their illicit gains into seemingly legitimate funds that can be used in tightly regulated financial markets.

That’s why the new class of digital criminal has not only reinvented crime, but also reinvented the art of money laundering. And regulators — who have devoted massive resources to building complex anti-money laundering (AML) regimes — are now only starting to catch up.