[perlclutcher]

Yes, they could have cited some sources, but the number is spot on. It's an overestimate, even.

https://www.unodc.org/documents/data-and-analysis/Studies/Il...

> Globally, it appears that much less than 1% (probably around 0.2%) of the proceeds of crime laundered via the financial system are seized and frozen.

https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1...

> the confiscation rate might be 0.07 percent. In other words, despite ubiquitous money laundering controls, criminals retain up to 99.93 percent of criminal proceeds.

[namdnay]

that's like saying that nearly nobody robs banks so there's no point having so much security in banks. the real question is what would the figures be if there were no checks?

and KYC isn't only for money laundering, it's also for tax fraud

[hobobaggins]

Clearly we need more money laundering controls then. (/s)