The connection between fincrime and real life is not always obvious. “Many people think of financial crime… as a crime with no real victim or cost.” says the World Economic Forum (WEF).
It’s estimated by the United Nations that money laundering alone costs 2-5% of global GDP each year. But the impact of fincrime goes far beyond the numbers. “From human trafficking in Malaysia to prostitution in Romania, from victims of the drug wars in Mexico, to child labour, the human cost of financial crime is very real…it is an industry many interact with every day without noticing,” explains WEF.
Bureau van Dijk spoke to Global Witness campaigner and investigator Barnaby Pace about how data tools like Orbis are making a difference in the fight against fincrime.
The interview explores:
- the unexpected and harmful impacts of fincrime
- how data and technology help to uncover wrongdoing
- how regulation is supporting corporations and society in taking a responsible approach
- the importance of acting on red flags
Learn from global witness campaigner and investigator Barnaby Pace how money laundering from crime spanning corrupt oil extraction deals to illegal logging is being uncovered using data, helping to protect society and the environment.