May 2020
- Can AfCFTA do enough to counter trade misinvoicing in Africa?
- Coronavirus disrupting TBML flows from US drug sales
- North Korea finances TBML with US$1.5 billion war chest
- Deep malaise in India’s customs clearance system must be investigated
- Scale and scope of IFFs increasing due to coronavirus
- Australia’s Westpac admits multiple AML/CFT breaches
- Turkey clamps down on ships misdeclaring fuel in smuggling operations
- Coronavirus impacts delay British Colombia’s beneficial ownership registry
- Saudi Arabia calls for UN member states to cooperate to reduce IFFs
- GFI urges FACTI to focus on trade transactions
- EU member states’ sluggish progress on beneficial ownership registers
- South African working group reports progress in tackling trade-based financial crime
- UK to introduce levy on banks, accountants, solicitors and estate agents to tackle money laundering
April 2020
- Tracking of ULDs through blockchain to curb TBML and save industry US$400 million
- UN launches high-level panel to curb IFFs and recover lost tax
- Narcotics supply chain disruption may push drug dealers towards TBML operations
- GFI releases study on IFFs in developing and advanced countries
- Brookings Institution publishes policy brief on IFFs from Africa
- Algeria’s new president underlines massive scope of over-invoicing
- Illegal resident sentenced for drug funded cash smuggling, funnelling and TBML scheme
- BMW calls for tighter security at Canadian ports to stem TBML
- Illicit finance will continue to flow through international trade during coronavirus pandemic EBA warns
- Illicit financial flows easier during coronavirus crisis
- Indian trade mis-invoicing discrepancies revealed
- South Africa reports progress on tackling trade-based IFFs
- Trade financiers coming to terms with the EU’s new money laundering directive
March 2020
- Iran and Pakistan edge towards electronic exchange of customs data
- IFFs a major reason why Nigeria failed to meet revenue collection targets
- US Drug Enforcement Agency wants increased TBML focus and more data analytics
- Pelican partners with CMSoft to boost TBML detection solution in South Korea
- US treasury issues 2020 strategy for combatting illicit finance
- AfDB’s €1.2 million grant to help Africa’s revenue capture
- Indian investigators embark on new diamond TBML probe
- IBM publishes whitepaper on the use of AI in AML compliance
- Fines for AML, KYC and sanctions violations up 160 per cent in 15 months
- Expect sharper focus on TBML in financial cybercrime says expert
- Netherlands beneficial ownership register postponed
- Bank of China settles TBML probe in France
- US overtakes Switzerland in global financial secrecy ranking, Cayman tops the index
February 2020
- Ghana’s crackdown on mis-declaration and under-invoicing
- Iran blacklisted, Pakistan warned, Korea commended at FATF plenary meetings
- Cameroon orders state purchases at market prices to curb over-invoicing
- Panama edges towards beneficial ownership register
- UK launches consultations on establishing 10 freeports despite international money laundering fears
- Beneficial ownership toolkit released by Global Forum
- Collapsed African supermarket chain part of international money laundering syndicate
- GFI announces plans for 2020
- Lack of beneficial ownership creating dangerous and widening gap in US security
- Ethiopia sets minimum coffee price to curb under-invoicing
- Bangladesh issues TBML guidance for banks