Based on data extracted from the Moody's Grid database—a vast database including information on money laundering and modern slavery cases spanning from accusations to convictions—Europe is seeing an alarming rise in these kinds of operations.

The number of cases of modern slavery increased significantly between 2018 and 2023, rising from 18,335 to 21,626—nearly 17% in just one year. This increase is especially noticeable in comparison to the 10,277 instances recorded in 2018. This alarming statistic shows Italy leading the way, with an estimated 32,000 cases of modern slavery registered in the previous five years. Following closely behind with almost 18,000 and 13,000 incidents, respectively, were France and Spain. In the meantime, the UK saw nearly twice as many accidents over that time, rising from 12,500 to 24,000.

Coinciding with the surge in contemporary slavery, the continent has seen a dramatic spike in money laundering cases, with yearly increases of 25% between 2018 and 2023—a pace that is 8% higher than the global average. With 29% of all recorded cases, the UK has emerged as Europe's epicenter for money laundering activities. Russia and Italy came next, with 16% and 12%, respectively. Over 10% of these money laundering operations have been directly connected to human trafficking, demonstrating the close linkages between different financial crimes.

In the documentary "The Infinite Game," which sheds attention on the growing threat that financial crime poses to respectable organizations, Moody's delves deeper into these challenges. The movie features journalistic and industry professionals in interviews that explore particular examples and the wider societal effects of these kinds of crimes.

Moody's Analytics' Keith Berry, General Manager of Know Your Customer Solutions, emphasized the difficulties and complications that organizations encounter in thwarting these crimes. He underlined the significance of thorough due diligence, pointing out that virtually all criminal activities seek to legalize illicit funds—a process that gives rise to a whole financial crime industry.

Berry emphasized the connection between money laundering and human trafficking, pointing out the increasing complexity and interdependence of financial crimes as well as their exploitation of holes in the financial system. In order to prevent money laundering and the unlawful acts it encourages, he urged for governments, corporations, and all organizations to implement more sophisticated due diligence procedures.