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 ›
trade based money laundering
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 ›