Key findings and recommendations from data collected over the past decade include:
- Verified business bank accounts are commonly exploited to conceal large-scale transfers, with the presence of PEPs and complex corporate structures heightening this risk;
- 18% of all Defence Against Money Laundering (DAML) suspicious activity reports in the UK emerge from the e-payment sector, underscoring its disproportionate vulnerability; and
- More rigorous legal enforcement and oversight mechanisms are required to address regulatory gaps.
Firms with operations in E-Payments can review the latest Transparency International report as part of remaining informed and reactive to new and ongoing fraud threats and vulnerabilities.