Is Digital ID the Key to Turning the Tide on Costly and Ineffectual AML Regulation?
Posted: Sun Jul 03, 2016 2:31 pm
Gunnar Nordseth has been working with information security for the past 15 years, and is a founder of three software companies all based in Norway.
Money laundering is a global problem, big enough that the World Bank conservatively estimates money laundering activity to be 2% of global GDP – that’s $1.5 trillion. No city is untainted, but London has been dubbed the money laundering capital of the world, despite attempts to crack down.
So how do regulatory bodies tackle this huge issue? The cost of implementing anti-money laundering (AML) regulation is already staggering. In 2003 the combined cost of AML in Europe and ... (read more)