Colombia’s illegally armed groups are using legal gold exports to launder money on an industrial scale and using trade-based money laundering (TBML) techniques such as misinvoicing to export illegally mined gold according to a study of how outlaw militias play a… Read More ›
The illegal gold trade in Ecuador is growing and increasingly accelerated by illicit cross-border contraband flows and unique vulnerabilities to money laundering activity according to a new report by the Organisation of American States Department against Transnational Organised Crime (OAS/DTOC)…. Read More ›
Alleged financier to embattled Venezuelan President Nicolas Maduro, Alex Saab, has been charged in an indictment with laundering the proceeds of violations of the US’ Foreign Corrupt Practices Act (FCPA) in connection with a scheme to pay bribes to take… Read More ›
Global Financial Integrity (GFI) has published an analysis of trade misinvoicing in Mexico and Colombia where individuals or entities falsify the quantity, price, and quality of goods to launder money, claim tax incentives, or evade taxes, duties and capital controls…. Read More ›
The US’ Bureau of International Narcotics and Law Enforcement Affairs has published and submitted to Congress its annual International Narcotics Control Strategy Report (INCSR). Volume II contains a country-by-country analysis of money laundering typologies used to transfer the illegal proceeds… Read More ›
Transnational Criminal Organisations (TCOs) continue to highly favour trade-based money laundering (TBML) operations to transport and launder illicit proceeds through the manipulation of international trade and financial institutions according to the US Drug Enforcement Administration’s (DEA’s) recently published National Drug… Read More ›
The exclusion of artisanal and small-scale miners from the financial system and Switzerland’s opaque banking laws are amongst the factors making Colombia’s gold sector vulnerable to illicit financial flows (IFFs) according to a new report published by Global Financial Integrity… Read More ›
The US authorities have been criticised in an article published by InsightCrime for their “bungled” and apparently lenient approach to the massive trade-based money laundering (TBML) operations of Nidal Waked. A prominent Panamanian businessman, Waked worked alongside several relatives supporting… Read More ›