A report from Syracuse University found that 25% fewer white-collar criminals are prosecuted by the US authorities now compared to 30 years ago. Meanwhile, an AML report by the US Department of State has accused the northern part of Cyprus held by Turkey of an inadequate legal and institutional framework to fight money-laundering, with casinos and the offshore banking sector still posing significant threats. Elsewhere, the National Police Agency of Japan reported a record 537 criminal cases of money-laundering and other illegal transactions against financial institutions in 2019. In similar news, financial crime in the Middle East has been rising for the last 2 years as per a PwC survey with over $42 billion lost and about half of all local companies reporting at least one occurrence in that duration.

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