Trade-based money laundering (TBML) has recently become more prevalent across Europe according to the head of Ireland’s Garda National Economic Crime Bureau (GNECB), detective chief superintendent, Pat Lordan. Speaking to Irish new channel, The Journal, at the European Anti-Financial Crime Summit… Read More ›

Europe
Europe under pressure to overturn ban on public access to beneficial ownership information
Representatives of civil society, media and academia from across the Europe and beyond are lobbying European Union (EU) legislators to restore the right of individuals holding a legitimate interest to access Europe’s ultimate beneficial ownership (UBO) registers. Such individuals include… Read More ›
Europe edging towards overturning ban on public access to beneficial ownership information
Two key committees of the European Parliament have both voted to have Europe’s ultimate beneficial ownership (UBO) registers reopened to people holding a legitimate interest. Such individuals include journalists, civil society organisations and higher education institutions. These individuals were banned… Read More ›
Wells Fargo agrees US$30 million settlement for trade finance breaches of sanctions against Iran, Syria and Sudan
Wells Fargo Bank has agreed a US$30 million settlement with the US treasury department’s Office of Foreign Assets Control (OFAC) in respect of its potential civil liability for apparent violations of sanctions against Iran, Syria, and Sudan. For about seven… Read More ›
Tough law enforcement may be fuelling up to US$1.8 trillion annual TBML flows in Europe
Tough law enforcement used by EU countries to tackle easier to detect types of financial crime may be fuelling trade-based money laundering (TBML), according to research published in the journal, Applied Economics. Estimates of Trade Based Money Laundering within the European… Read More ›
Inadequate due diligence and beneficial ownership transparency facilitating US$23 billion illegal fishing industry
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 ›
Gazprombank and Russian diamonds in line for EU sanctions
Gazprombank could be a prime target in a new batch of European Union (EU) sanctions on Russia expected in response to Moscow’s mobilisation decree to conscript 300,000 reservists into the Russian army and referendums in areas the union sees as… Read More ›
TBML and IWT amongst four money laundering typologies drawing more attention
An analysis by consultants at Forensic Risk Alliance (FRA) of anti-money laundering (AML) trends and challenges has identified trade-based money laundering (TBML) and the illegal wildlife trade (IWT) as two of the four money laundering typologies that have recently received… Read More ›