Everybody has, therefore, a responsibility to combat money laundering, because its negative impact has a unique way of creating far ranging negative consequences. The financial sector, in particular the banking sector, more than any sectors, needs to operate in a crime and money laundering free environments.
We all know that banks deal  BIS Review 78/2009  1  with other people’s money and therefore rely heavily on reputation for integrity. Without the public confidence from the law abiding citizenry it would be difficult for financial institutions to conduct business in the form they do now.