Building a new international anti-money laundering (AML) architecture to combat the laundering of trillions of criminal dollars globally.
The United Nations Office on Drugs and Crime (UNODC) estimates that the amount of money laundered globally in one year is 2-5% of global GDP, amounting to $800 billion – $2 trillion USD. In the face of the increasingly global and virtual nature of financial services, paired with the growing sophistication of money launderers, traditional AML systems fall short.
iov42 is leveraging its blockchain technology to build a unique system that brings the necessary transparency to global financial markets, while still protecting personal privacy and confidentiality.