Money laundering and the financing of terrorism and proliferation are widely recognised as posing severe and complex regulatory challenges that transcend international borders. What we know about these offences is, however, limited and it is unclear whether current crime combating measures have a sufficient impact on these crimes or what the current measures are aiming to achieve. While a global approach of this nature will always have to contend with uncertainty and differences in views, the anti-money laundering and counter terrorist and proliferation (AML/CTF/CPF) venture, largely informed by the global standards of the intergovernmental Financial Action Task Force (FATF), is also challenged by the illusory truth effect—a repeated exposure to a claim increases its perceived accuracy, regardless of its empirical reliability.