Fight against money laundering and terrorist financing: a record number of reports in 2023

Summary:

Tracfin, a French service of intelligence, received a record 190,653 suspicious financial transaction reports in 2023, representing a 15% increase from 2022 and a sevenfold increase in ten years. The sector that contributes the most to these reports is the financial sector, with 94% of total declarations coming from banks, credit institutions, payment establishments, and electronic money establishments. The non-financial sector also saw an 8% increase in reports. Tracfin received and processed information from various public entities, authorities, and professionals, and organized over 150 meetings with stakeholders to share information on risks and trends. The agency plays a crucial role in combating money laundering and terrorist financing, and its new declaration form aims to gather better-structured data to facilitate its analysis and operations.