Avoiding the Money Laundering Trap

Any money laundering expert will tell you it's virtually impossible to produce a reliable estimate of the amount of money that's laundered each year on a global basis. In 1996, for instance, the International Monetary Fund estimated the aggregate scope of money laundering could be anywhere from 2 percent to 5 percent of the world's gross domestic product, or between 590 billion and 1.5 trillion U.S. dollars.

By Counsel to Counsel Editor Scott M. Gawlicki

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