Illicit proceeds from criminal activity are estimated to account for 2-5% of global GDP (around $2 trillion USD), yet less than 1% is ever seized or frozen by law enforcement agencies – the current anti money laundering regime is not fit to combat a crisis of this scale. As such, the coalition presents a concerted and collaborative effort to address the societal costs and risks that financial crime poses to the integrity of the global financial system through five key objectives:
The coalition has been designed using a multifaceted approach to ensure the success of its objectives:
The coalition meets in-person and on a semi-annual basis. However, also facilitates forums/calls between members and partners for more regular information sharing updates.