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Nasdaq® Verafin Report Finds the Financial Crime Epidemic Reaching Alarming New Heights as Illicit Financial Activity Surges to $4.4 Trillion in 2025
Criminal Networks Leverage Technological Advancements to Drive Fraud Losses of Over Half a Trillion Dollars Worldwide To Accelerate Efforts to Combat Fraud
About this update from Nasdaq, Inc.
[{"type":"text","content":"Criminal Networks Leverage Technological Advancements to Drive Fraud Losses of Over Half a Trillion Dollars Worldwide To Accelerate Efforts to Combat Fraud and Scams, Nasdaq Verafin to Announce Pledge to Catalyze Private Sector Collaboration with UN Office on Drugs and Crime NEW YORK, March 11, 2026 (GLOBE NEWSWIRE) -- Nasdaq Verafin has released its 2026 Global Financial Crime Report, the second edition of a comprehensive research initiative that provides insights into the scope and scale of financial crime worldwide. Combining proprietary data modeling, a survey of more than 500 financial crime professionals, and in-depth interviews with senior executives, this report provides the company’s most rigorous analysis of industry threats, priorities, and opportunities to date. The 2026 Global Financial Crime Report found that since 2023 illicit financial activity has surged by $1.3 trillion, pushing the scale of the global financial crime epidemic to an estimated $4.4 trillion. With a compound annual growth rate of 19.2% over two years, this growth in the scope, scale, and evolution of financial crime fundamentally threatens the integrity of the financial system, powering insidious and destabilizing crimes such as human trafficking and terrorism. As trillions of dollars in illicit funds flowed through the financial system, there was significant growth across every measured typology, with illicit flows reaching: $1.1 trillion in drug trafficking activity, with annualized growth of 17.1%$528.5 billion in human trafficking, with annualized growth of 23.5%$16.2 billion in terrorist financing, with annualized growth of 18.8% In addition, fraud scams and bank fraud schemes led to $579.4 billion in losses globally. Notably, losses from fraud scams are growing more than twice the rate of bank fraud, reaching $62 billion and growing at a compound annual growth rate of 19.3% over the last two years. Powering this dramatic rise in scam losses is the widespread use of AI by criminal networks, who leverage advances in technology to exploit vulnerabilities in the financial system. The speed at which this new threat has saturated the market is alarming – 90% of the financial crime professionals surveyed in this report noted an increase in AI-driven attacks at their institution over the past two years. “We are currently in the midst of a full-blow...