Opinion
Money laundering is often described as a victimless crime because it is hidden from public view. The central problem is that while criminal proceeds be
Opinions
2026-07-242026-07-24By Correspondent
Money laundering is often described as a victimless crime because it is hidden from public view.
The central problem is that while criminal proceeds become hidden, the social damage remains visible. In reality, its consequences are visible everywhere. It enables corruption, organised crime, tax evasion, leads to inequality and undermine development efforts by governments (FATF, 2024). Money laundering is a global problem. FATF (2024) estimates that between 2 – 5 % of global GDP is laundered annually. This is an amount of between 800 billion and 3 trillion USD laundered per year. In Africa the figure of illicit financial flow is staggering above 50 billion USD (ESAAMLG Report, 2024). In Namibia an amount of about US$4.6 billion was laundered annually – (BON Report, 2026. Money laundering is the process through which illegally obtained proceeds are disguised to appear legitimate.
