Director-General/Executive Director
Excellencies,
Ladies and gentlemen,
I’m delighted to welcome you all to this event, and I would like to thank Italy for leading this important discussion on the fight against money laundering and financial crime, along with our co-sponsors, the United Arab Emirates, the United States of America, and INTERPOL.
And I am pleased that we have with us the Secretary-General of INTERPOL, Mr. Stock, and the President of FATF, Mr. Kumar. Your presence speaks to the value of partnerships in the fight against financial crime.
Today, money laundering and terrorism financing are allowing criminal enterprises to thrive, while adding fuel to violence raging around the world and undermining sustainable development.
The numbers are staggering.
According to a 2021 UN report on Financial Integrity for Sustainable Development, around 1.6 trillion dollars is estimated to be laundered globally a year – that’s equivalent to 2.7 per cent of global GDP.
Of course, these numbers only show part of the picture, given the clandestine nature of money laundering.
But the impact is clear: millions of dollars siphoned away every year from education, healthcare, and long-term, sustainable development.
While this affects regions of all income levels, it is developing countries and the most vulnerable in society that are hit the hardest.
And it is the criminal and terrorist groups who benefit, exploiting gaps in capacities, policies, and the rule of law to launder illicit proceeds and fund their activities.
Financial crime also perpetuates other types of crime, from the trafficking of drugs, people, and firearms, to the criminal exploitation of wildlife and the environment, to online scams and illegal betting, and more.
And criminal groups are benefiting from advanced technologies, including cryptocurrencies, to move, hide and store the illicit gains generated from these crimes, while the transfer of cash through opaque corporate structures and shell companies continues to pose challenges in tracing illicit financial flows.
Just last week, I joined the G7 Justice Ministers Meeting in Venice, where I highlighted the swift evolution of money laundering and organised crime, and the need for coordinated responses.
By following the money trail, we can uncover and dismantle the intricate web of illegal financial networks that sustain criminal and terrorist operations.
But we must go beyond treating the symptoms of these crimes, and address their underlying drivers, including corruption, poverty, inequality, and weak rule of law, which create fertile ground for illicit financial activities to grow and undermine legitimate, inclusive economic growth.
We need to take the profit motive out of crime, by confiscating illicit proceeds and returning stolen assets, so that crime does not pay.
And we need to use technology to its fullest potential.
AI in particular can be a gamechanger in this fight, by enhancing the transparency and traceability of financial transactions and strengthening our ability to detect and disrupt illicit activities.
Excellencies,
We have important international commitments and norms that ground our work on this topic.
The political declaration adopted at the SDG Summit in 2023 recognized the intrinsic link between sustainable development and tackling money laundering.
In 2022, the General Assembly called for greater international action against illicit financial flows and the strengthening of best practices to foster sustainable development.
And the international standards set by FATF provide a blueprint toward effective implementation of robust measures against money laundering and countering the financing of terrorism.
I encourage Member States to make full use of these normative instruments and the UN’s governing bodies, including this very Commission, to raise awareness on the importance of tackling financial crime and advancing sustainable development, and to enhance international cooperation.
With the deadline for the 2030 Agenda fast approaching, the time for action is now.
We must accelerate progress, and we must do so together.
As the Secretariat of the UN conventions against crime and corruption, UNODC is committed to supporting Member States in strengthening their financial and legislative frameworks and building capacities.
In 2023, we trained over 3,100 practitioners in 75 countries on combating money laundering and terrorism financing.
We are supporting countries in their efforts to implement effective, risk-based frameworks on anti-money laundering and countering terrorist financing, and to systematically address institutional vulnerabilities in countries preparing for FATF Mutual Evaluations.
And I would like to take this opportunity to commend FATF’s growing engagement with UNODC on topics which address the specific vulnerabilities of low-income countries.
And earlier this year, UNODC and FATF hosted here in Vienna an annual meeting of the largest private financial institutions, further building on our partnership.
We also enjoy extensive cooperation with INTERPOL, on tackling money laundering related to crimes that affect the environment, and we are providing capacity building and training to law enforcement and criminal justice officials on tackling financial crime.
And we are working with the private sector, banks, and civil society to support financial transparency and integrity, as this contributes to global financial stability and inclusion.
Ladies and gentlemen,
Evolving criminal models, transformative technologies, and rule of law deficits are giving rise to new risks of financial crime and terrorist financing.
We must answer with shared political commitment and cooperation across borders and sectors.
The 15th UN Crime Congress in the UAE in 2026 will be a unique opportunity to expand our partnership and accelerate action on crime prevention and criminal justice and fighting financial crime.
Let us work together for a global financial sector that is inclusive, safe, and free from crime.
Thank you.
