Join us in our mission to fight financial economic crime
In the Netherlands, an estimated € 16 billion is laundered per year, which is approximately 2.5% of the gross national product. This concerns money criminally earned in the Netherlands but also money laundered in the Netherlands by foreign criminals. Criminals are increasingly successful, often advised by financial consultants from the legal world, in bringing this illegal money into our legal economy.
Financial economic crime is multi-faceted, multi-national and very often invisible, making it hard to fight. Its impact however is felt in many ways. For those forced into slave labor by criminals infiltrating supply chains, or those who are victims of criminal gangs who launder their profits through the financial system, the cost is immense. Still a majority of people unjustly see it as a victimless crime, only impacting big businesses and banks. Big organizations and financial institutions are indeed paying a heavy price, collectively spending billions trying to prevent financial economic crime. Government lose revenues by collecting less taxes and society in general pay a heavy price when the money find its way to terrorist organizations.
The murky world of Money Laundering and Financial Economic Crime affects us all and we from Fectfinder made it our mission to contribute to society by developing tools, people and knowledge to effectively fight it.
This mission was derived from the sustainable development goals of the United Nations (established in 2015) and more specifically SDG 16 about “peace, justice and strong institutions.” SDG 16 is divided into 12 targets. The most applicable for our mission are:
– protect children from abuse
– combat organized crime and illicit financial and arms flow
– substantially reduce corruption and bribery
We are certain that the modular platform Fectfinder we developed will make that substantial contribution. Financial institutions and other corporations can become compliant and reduce cost at the same time. Society will benefit at the individual level because there will be a decrease in crime (crime no longer pays) and in a more general context because taxpayers’ money can be used for other relevant issues as for example building hospitals and infrastructure.
That is why we linked our mission to the sustainable development goals of the UN.