The United Nations Office on Drugs and Crime (UNODC) estimates that the total volume of money laundered globally in a year amounts to between 2 and 5 percent of global gross domestic product (GDP), or £628 billion to £1.6 trillion in real terms. In the United Kingdom alone, the social and economic costs are estimated to be at least £24 billion a year.

Read the full article in International Banker.

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