Estimated money laundering flows are reported to be in the range of over US$1 trillion. The report reveals the gaps in the control and supervision of the real estate sector for the prevention of money laundering in many countries in the region. A few countries, such as which are laundered every year by criminals such as drug dealers, arms dealers and traffickers and smugglers of people. In recent years there have been rapid changes in the financial services industry and growing regulatory expectations and pressures. Combating money laundering and terrorist financing continues to be a major challenge, particularly for the banking sector as gatekeepers to the financial system. Even more challenging is the struggle against money laundering in cash-based economies.
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