A new initiative called Tech for Transparency is calling for concept notes from parties interested in participating in its efforts to implement blockchain in every port and logistics transit point to ensure accuracy and integrity of global trade data. The… Read More ›
A bipartisan group of eight republican and democratic US senators has introduced a resolution urging Congress to take steps to more effectively combat international criminal organisations, illicit trade, and the use of trade-based money laundering (TBML). While the main driver… Read More ›
Quantexa, a London-based fintech providing decision intelligence solutions to help banks, insurers and government organisations to make sound decisions, has been recognised as a category leader for trade-based anti-money laundering solutions (TBAML) in the Chartis RiskTech 100 report. Chartis, which… Read More ›
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 ›
Trade-based money laundering (TBML) is one of the primary channels used to move the proceeds of fraud perpetrated in the Caribbean, according to a new report by Global Financial Integrity (GFI), the Washington based non-profit focused on illicit financial flows…. Read More ›
Australia’s government agency for detecting, deterring and disrupting financial crime has published guidance providing indicators and behaviours to help financial service providers – particularly those engaged in trade financing – to detect and report suspicious financial activity. The guidance by the… Read More ›
Bangladesh Bank has suspended 100 letters of credit (L/Cs) for over-invoicing, according to the central bank’s governor, Abdur Rouf Talukder. The suspensions are part of the bank’s efforts to prevent trade-based money-laundering (TBML) via mis-invoicing and preserve foreign exchange reserves… Read More ›
The Financial Action Task Force (FATF) has published a report that aims to raise awareness about the opioid trade, including the use of precursor chemicals, and the related global financial flows. Money Laundering from Fentanyl and Synthetic Opioids looks at… Read More ›