Technology has simplified the movement of money so much that people and businesses can send funds anywhere in the world, instantly, but tech’s rapid advance has also brought new ways to launder cash. In fact, the United Nations warns this rise of “megabyte money” makes curbing the transfer of illicit funds more urgent than ever. Globally, estimates suggest between $800 billion and $2 trillion in laundered money flows through the financial system every year, and an overwhelming majority of it goes undetected. The Netherlands alone sees $16 billion in criminal money flowing through its financial system. Zooming out to Europe…
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