Abstract
Money laundering is a hot debate discussion among policymakers, as money laundering usually arises due to theft of money or other illegal activity. Such criminal activities damage every stakeholder of the economic cycle, whether it is trade, productivity, or contribution of the financial sector itself. Due to the fact money laundering makes the industrial growth process very slow and undercuts economic activities, which are essential for the development. This chapter explores the nexus between money laundering as a threat to a sustainable development goal from different angles. The discussion reveals that money laundering negatively impacts economic growth, and the fundamental pillar of sustainable development is economic growth. So can we achieve sustainable economic growth and development without controlling money laundering? The authors conclude it is not possible.
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