Financial crime is multi-faceted, multi-national and very often invisible, making it hard to identify, measure and combat. Its impact is felt in many ways.
At a national level, revenues lost through financial crime mean governments collect less tax revenues and fewer schools and hospitals are built, causing disarray due to the criminal and terrorist activities it funds. At Refinitiv we are committed to uncovering the true scale of the challenge to raise awareness and create the data and coalitions that will increase our ability to fight financial crime together, more effectively around the world. To this end, we have commissioned an independent survey of over 2,300 senior executives in large companies, across 19 countries, to identify the true cost of the problem. We also conducted interviews with leading NGOs (Education Endowment Foundation, Transparency International UK, Walk Free Foundation) and the European Union’s law enforcement agency to reveal the wider economic, social and human impact. Finally, we identified ways in which business, governments and Refinitiv are working together to lead the fight against financial crime.