Former US customs chief’s final speech calls for international cooperation to curb trade-based financial crime

More international cooperation is required to tackle increasingly sophisticated trade-based financial crimes according to former US Customs and Border Protection (CBP) Commissioner Gil Kerlikowske.

In his final major speech before leaving office, he said the agency’s enforcement, security and trade development missions would fail unless the CBP works more working closely with overseas counterparts, especially as threats from criminals and terrorists continue to grow and diversify.

Tougher to detect

“The tremendous growth in the volume and complexity of trade requires increased cooperation among customs authorities to detect, deter, and disrupt networks engaging in illicit trade,” the former police chief said.

“Traditional trade fraud schemes – activities such as transshipment and undervaluation – are becoming harder to detect and prove without tracing the goods back through the supply chain,” according to Kerlikowske.

International network

“Relatively new trade fraud schemes – such as identity theft and TBML – pose risks not only to US national security, but also to those of our closest trading partners,” he added.

“Increased information sharing among customs agencies – through an International Customs Network, for example – would facilitate global enforcement, improve risk management, and help stem the proliferation of illicit trade,” he concluded.

Categories: Trade Based Financial crimes News

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