Nearly a decade after the Financial Action Task Force (FATF) introduced requirements for National Risk Assessments (NRAs) of money laundering and terrorism financing (ML/TF) risks, the international community is at the right point to review the past 10 years and… Read More ›
The European Commission (EC) has set out plans to introduce a new import ban on Russian gold to align with the announcement last month that the UK, Canada, US and Japan would do so in an attempt to stem funding for… Read More ›
Australian financial institutions have reported increased exposure to trade-based money laundering (TBML) and supply chain corruption amongst various other financial crimes over the past 18-24 months according to the latest LexisNexis True Cost of Compliance Study – Australia. The firms… Read More ›
Trade-based money laundering (TBML) has ranked top of the list of emerging financial crime risks in the latest LexisNexis True Cost of Compliance Study – Asia-Pacific Edition. Crimes involving digital payments and cryptocurrency, third parties – including TBML, money mules,… Read More ›
Sanctions imposed by western countries, Australia and Japan on Russian banks, oligarchs and other wealthy individuals in response to Moscow ordering troops into separatist regions of eastern Ukraine may prompt sanctioned individuals and entities to contemplate using trade-based money laundering… Read More ›
Global Financial Integrity (GFI), the Washington-based non-profit best known for its work researching and lobbying to prevent illicit financial flows, has developed a cloud-based risk assessment application to detect misinvoicing. GFTrade provides accurate results efficiently, consistently and with minimal training… Read More ›