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
Chinese national who used seafood TBML in global drug money laundering scheme pleads guilty
A Chinese national and naturalised US citizen has pleaded guilty to his involvement in a conspiracy to launder at least US$30 million in drug proceeds on behalf of global drug trafficking organisations. Trade-based money laundering (TBML) was used extensively by… Read More ›
Fraudsters employ TBML to shift proceeds of email, romance and pandemic-related scams from US to Ghana
Six people have been arrested in the US in connection with their roles in a fraud and money laundering conspiracy based in Ghana involving the theft of tens of millions of dollars. Those arrested employed trade-based money laundering (TBML) operations… Read More ›
FATF reports on sectors and products at risk of TBML
Common economic sectors and products at risk of trade-based money laundering (TBML) are examined in a list contained in the new report released by the Financial Action Task Force (FATF) in collaboration with Egmont Group to help the public and… Read More ›
Technology and collaboration needed to counter TBML says chief compliance officer
HSBC Singapore’s chief compliance officer is calling for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering (TBML) risks. In an article for Regulation Asia, Jamil Ahmed discusses these mitigating factors and concludes… Read More ›
US investigators ditch inquiry into Kaloti’s gold trade money laundering
Investigators in the US have ditched their pursuit of money laundering charges against one of the world’s largest gold traders and refiners, Kaloti Jewellery Group. Earlier this year a British High Court found that one of the world’s ‘Big 4’… Read More ›
India calls for legislation focused on trade based money laundering
India’s Special Investigating Team (SIT) is advocating that trade-based money laundering (TBML) should be specifically contemplated in the country’s anti-money laundering (AML) and counter terrorist funding (CFT) laws. The team appointed by India’s Supreme Court is also calling for more… Read More ›