The Hidden Impact of Dirty Money Flowing Through the Global Economy
Singapore’s recent operation against the “Fujian Family” organized crime ring has resulted in the seizure of over S$2.8 billion in assets, drawing attention to the staggering sums of illicit money circulating globally. While this is a significant amount, it pales in comparison to the global scale of money laundering.
According to estimates from the International Monetary Fund (IMF), between 2% and 5% of global GDP, or as much as US$2 trillion annually, is laundered. However, the influx of such funds does not benefit the economies they land in. These illicit flows contribute to instability and harm economic integrity, leaving a lasting negative impact on both local and global financial systems.
