Even in the current slow-growth environment, global e-commerce sales in 2022 are expected to exceed $5 trillion for the first time and remain on pace to surge past $7 trillion by 2025. For money launderers, the online trading boom has been a bonanza. With a few clicks of a computer, money launderers are using e-commerce sites and payment providers to process ill-gotten gains, conceal the funds’ sources and convert them into clean taxable income.
How can consumer goods and retail companies keep pace with those who are looking to cause harm while reducing inherent regulatory and reputational risks? Here are six proactive steps you can take now: