Money laundering affects 3-5% of global GDP
15:10
Money laundering is a cross-border practice involving gigantic resources. What measures are banks using to prevent crime and protect customers' money? What tools support the fight against money laundering and corruption? Will the EU AML Directive help in the fight against this practice? These and other questions were answered by ING Hubs Poland experts in a series of webinars organized by the Polish Press Agency.
Daniel Mazurek, the compliance expert at ING Hubs Poland, pointed out that today's money laundering is different from the problem that developed on a large scale in the 1990s and is mainly concerned with 'suitcases of money' from crimes related to narcotics or illegal arms trade. Nowadays, money from illegal sources is most often found in the financial system and the crimes involve, for example, non-payment of taxes or evasion of sanctions.
