Assertion Supported AI assessment confidence: 92% certainty 4/5 debate potential 3/5

Haun: 99.9% of fiat money laundering succeeds despite $20B compliance spend

Catherine (Katie) Haun · 3 Common Myths People Have About Crypto · Nov 2, 2018 · at 10:14

Katie Haun, a16z crypto general partner and former DOJ prosecutor, compares the success rate of traditional fiat money laundering to cryptocurrency regulations.

0:00 / 0:24exact quote · 24.9s

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“In fact, it's working so fine that 99, this is staggering, I didn't even know this until a couple years ago, 99.9% of money laundering crimes with fiat currency succeed despite the twenty billion dollars annually That financial institutions put toward anti-money laundering compliance.”

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The claim, plainly

Katie Haun asserts that 99.9% of fiat currency money laundering crimes succeed despite financial institutions spending $20 billion annually on anti-money laundering compliance.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Katie Haun's assertion accurately reflects published government, academic, and industry reports available prior to November 2018. Former U.S. Treasury Special Agent John Cassara's August 2017 FACT Coalition report and Raymond Baker's analyses of U.S. Treasury and UNODC data cited a 99.9% failure rate for anti-money laundering enforcement (UNODC estimated 0.2% seized, or a 99.8% success rate). Furthermore, Europol reported in September 2018 that European banks spend an estimated $20 billion annually on AML compliance, while LexisNexis Risk Solutions estimated U.S. AML compliance spending at $25.3 billion annually in October 2018.

Raymond Baker and the August 2017 FACT Coalition report cited U.S. Treasury and UNODC data establishing a 99.9% failure rate for money laundering enforcement.
Europol estimated in September 2018 that European banks spend $20 billion annually on AML compliance.
LexisNexis Risk Solutions reported in October 2018 that U.S. financial services firms spend $25.3 billion annually on AML compliance.

Checked against

[1] thefactcoalition.org [2] forbes.com [3] thefactcoalition.org [4] unodc.org [5] un.org [6] unodc.org [7] antimoneylaundering.wtf [8] cdhowe.org

financial institutions spend 20 billion anti money laundering compliance UNODC money laundering 99 percent succeed compliance cost "Raymond Baker" "99.9" "money laundering" 99.9 percent money laundering succeed 20 billion AML compliance UNODC money laundering intercepted 0.2 percent 99.8 percent

assessed as of 2026-07-31

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Mentioned

fiat currency money laundering

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