From Global Regulation & Policy

TCSPs: The New Gatekeepers of the Financial System

Figures from the UN Office on Drugs and Crime show that less than one per cent of criminal funds flowing through the financial system each year have been frozen and confiscated by law enforcement bodies.[i] Thomson Reuters estimates that the aggregate lost turnover as a result of financial crimes is US$1.45 trillion.[ii]

What have the CRS, BEPS, FATCA…