AML Systems and Controls: Friend and Foe

But this is a drop in the ocean compared to the cost of non-compliance. 

Banks have been fined more than $320 billion due to market abuse since the financial crisis of 2008 (Ref: Bloomberg). It is estimated that financial crime is costing the global economy $3-5 trillion dollars per annum but only 1% of illegal gains are frozen or seized by the authorities (Ref: UNODC).

Why aren't more of these funds being captured?

The private sector continues to harbour, facilitate and launder proceeds of crime. The regulatory and legislative framework is playing catch-up because changes in law to combat crime is a long process.