Maritime and regulatory technology provider Pole Star and Envoy, which harnesses blockchain technologies to bring efficiencies to global supply chains have teamed up to offer compliance screening and vessel tracking. By using Pole Star’s PurpleTRAC regulatory technology solution, Envoy says its… Read More ›
Trade Based Financial crimes News
India turns to AI to expose shell companies
India’s ministry of corporate affairs (MCA) is turning to artificial intelligence (AI) and data analytics as key elements to expose shell companies. The ministry is in the process of constructing what it describes as an advanced version of its MCA… Read More ›
EU-Africa efforts to curb IFFs may be set back by coronavirus impacts
Europe and Africa must address the issue of illicit financial flows (IFFs) and prioritise the delivery of greater domestic resource mobilisation so that public resources can be invested in public services according to the directors of the European Think Tanks… Read More ›
US government accepts one call for closer TBML monitoring, rejects another
The US government has rejected one of the recommendations of the Government Accountability Office (GAO) for closer monitoring of efforts to fight trade-based money laundering (TBML). The GAO made two recommendations. First it suggested the Department of Homeland Security (DHS)… Read More ›
Global Coalition to Fight Financial Crime formally launched
The Global Coalition to Fight Financial Crime (GCFFC), established to promote more effective public and private sector collaboration and engage policy makers with the aim of making anti-money laundering rules more effective, has been formally launched. The founding of the… Read More ›
Master of trade-based money laundering arrested in Cape Verde
Colombian businessman Alex Saab has been arrested whilst the private jet he was flying in was refuelling in the African island republic of Cape Verde. His arrest may well concern an ally of his, Venezuelan leader Nicolas Maduro, because investigators… Read More ›
FATF concerns about UAE’s free trade zones and multiple company registries
The UAE must take urgent action to effectively stop the criminal financial flows that it attracts according to a new report from the Financial Action Task Force (FATF). In its latest mutual evaluation report on the seven emirates the global… Read More ›
London a haven for money laundering by organised criminals say investigators
London has become a haven for money laundering by organised criminal groups, in part because it is so easy to create companies in the UK, according to an investigation by the Organised Crime and Corruption Reporting Project (OCCRP). One of… Read More ›