The US Immigration and Customs Enforcement’s Homeland Security Investigations (HSI) unit has signed with the Chilean National Customs Service an agreement to establish a Trade Transparency Unit (TTU) in Chile.
The establishment of the TTU aims to enhance the detection of trade-based money laundering (TBML) and commercial fraud violations.
HSI will provide Chile’s National Customs Service with its Data Analysis and Research for Trade Transparency System.
The HSI computer system contains domestic and foreign trade data and allows users to see both sides of a trade transaction, thus making the transaction transparent.
Tackling financial crime
This access aims to provide both HSI and Chilean Customs with tools necessary to identify international trade anomalies and financial irregularities indicative of TBML, customs fraud, the movement of counterfeit goods and other import-export crimes.
The agreement means Chile becomes the fourteenth of HSI’s international TTU partners.
International operations of HSI now include 63 operational attaché offices in 47 countries around the world.
HSI special agents work with foreign law enforcement agencies with the aim of dismantling transnational criminal organisations involved in illicit trading and financing activities.
Categories: Trade Based Financial crimes News