Lax supply chain due diligence and a lack of beneficial ownership transparency are amongst factors allowing one-fifth of the global fisheries market to be captured by operators involved in illegal, unreported, and unregulated (IUU) fishing, a new report from the… Read More ›

Africa
DRC, Mozambique, Tanzania added to FATF grey list
Democratic Republic of the Congo (DRC), Mozambique and Tanzania have been put on the Financial Action Task Force (FATF) ‘grey list’ of jurisdictions under increased monitoring it was announced at the end of the global financial watchdog’s plenary meetings in… Read More ›
New report sheds more light on nearly US$1 billion diverted from South Sudan’s L/C programme
Almost U$1 billion supplied to South Sudan through a credit line issued in US dollars in the form of letters of credit (L/Cs) from Qatar National Bank (QNB) and Kenya’s Stanbic Holdings to support the country’s efforts to import food,… Read More ›
TBML used extensively to launder proceeds of romance and internet scams
Investigators in the US are probing a trade-based money laundering (TBML) network that is supporting the activities of internet fraudsters. The investigation by the Federal Bureau of Investigation (FBI) has already resulted in charges brought against two alleged fraudsters. US… Read More ›
Global Forum reports on African plans and progress to stem IFFs
A lack of transparency facilitates all types of illicit financial flows (IFFs) in Africa, including money laundering and terrorism financing, corruption as well as tax evasion according to a new report published by the Global Forum on Transparency and Exchange… Read More ›
Malign Russian activities could lead Washington to impose more sanctions on participants in Africa’s natural resource trade
Washington is preparing to expose and contain what it sees as “malign Russian activities” in Africa’s oil, gas and mining sectors in which individuals and entities connected with Russian President Vladimir Putin appear to be playing an increasingly big role…. Read More ›
US government lost US$640 billion in a year through trade-based tax evasion and money laundering
Trade-based tax evasion and money laundering cost the US government more than US$640 billion in taxable income during 2021 according to a new report commissioned by Sēk Strategies, a Washington-based consultancy firm focused on transparency, accountability, human rights and the… Read More ›
IWT Financial Flows Toolkit launched to support financial institutions
A toolkit aimed at supporting financial institutions in addressing and reporting suspicious transactions relating to the illegal wildlife trade (IWT) has been launched. Developed by the UK Serious Organised Crime Network in collaboration with the UAE government, WWF, TRAFFIC and… Read More ›