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Money Laundering Bulletin

Value for money – AML assessed

The world has been fighting money laundering in more or less the same way for a quarter of a century now, writes Alan Osborn, and many of those in the thick of the battle are starting to wonder, frankly, whether the game is worth the candle any more.

Consider this: “We’ve had the anti-money laundering (AML) system for roughly 20 years – and on a global basis for more like 10 years – and to me, there’s really no evidence of a significant drop in predicate crimes, even in those countries that have spent a lot of public money and forced the private sector to spend a lot of money on AML compliance,” said Professor Jason Sharman, director of the Centre for Governance and Public Policy at Griffith University in Australia, and author of a string of papers and books on AML.

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