The global war against money-laundering is proving to be ineffective and causing social and economic harm. Bank leaders, tech firms and government agencies should invite politicians to allow the AML system to impact finance crimes with less cost and harm. Along these lines, the UN has created a High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI Panel) to explore the action needed by authorities in areas of financial transparency, money-laundering and corruption. This is important, going by a PwC report that showed that despite a drop in economic crime in South Africa, fraud and corruption are still rampant due to limited resources for risk assessment, governance and third-party management. Similarly, the 2020 International Narcotics Control Strategy Report (INCSR) of the US Department of State also highlighted that corruption is a significant by-product and facilitator of the international drug trade and organized crime, and effective countermeasures must be taken.