Steve Frame is director of Sensu360 Ltd, where he helps businesses reduce risk and maximize profits. He has 25 years of experience in the retail sector, most recently as head of business controls for Selfridges & Co. where his responsibilities included the company’s anti-money laundering strategies, policies, procedures, and investigations. Other roles have included head of loss prevention and profit protection with River Island, Sainsbury’s, and M&S. He also served in store manager and risk manager roles at Woolworth’s.
I don’t believe there is an accurate figure out there that gives a good indication of the cost impact of money laundering on the global economy, but I have seen figures estimating hundreds of millions to trillions.