Why fighting money laundering is vitally important Sumit Kumar Sharma"> By Sumit Kumar Sharma - 26 February 2021 - 07:22 Anti-money laundering (AML) compliance should not merely be a tick-box exercise for financial institutions, as it not only exposes the organisation to the risk of hefty non-compliance penalties and reputational damage, but could also lead to criminal activity going undetected. The estimated amount of money laundered globally in a single year is between 2% and 5% of global GDP, or $800bn to $2trillion, making it one of the most serious financial crimes worldwide. I...