The Latin American Heading the World’s Financial Watchdog
Elisa de Anda Madrazo is tackling money laundering and terrorist financing worldwide as president of the Financial Action Task Force.
Each year, criminals around the world launder as much as $1.6 trillion in transactions that evade global authorities and the ever-stringent oversight network. Despite substantial progress in combating the irregular movement of money worldwide, the challenge is even more pressing with the increasing use of cryptocurrencies and financial loopholes. Three years ago, the United Nations called for urgent reforms in global finance, stating that money laundering was close to 2.7% of global GDP. U.S.-based Nasdaq found that in 2023, more than $3.1 trillion in illicit funds flowed through the...
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