BCL Partner John Binns examines whether the current global approach to anti-money laundering (AML) should shift from a ‘hygiene’ strategy focused on keeping suspected criminal property out of the financial system to a ‘hunter’ approach designed to support asset recovery and law enforcement investigations.
John considers the limitations of the current system, including the volume of suspicious activity reports (SARs), pressure on financial intelligence units and the risk that overly restrictive measures simply displace illicit transactions into less compliant environments.
He also explores how a ‘hunter’ strategy could encourage identifying and tracking criminal property while supporting legitimate business, and considers whether the UK could help drive a shift in global AML strategy.
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